Promising Developments in Nurix Therapeutics’ BTK Degrader Drive Buy Rating

Analyst Jeet Mukherjee from BTIG reiterated a Buy rating on Nurix Therapeutics (NRIX – Research Report) and keeping the price target at $35.00.

Jeet Mukherjee has given his Buy rating due to a combination of factors related to the promising developments in Nurix Therapeutics’ BTK degrader, bexobrutideg, particularly in treating relapsed/refractory chronic lymphocytic leukemia (CLL) and Waldenström macroglobulinemia (WM). The updated data presented at the 2025 EHA conference showed an impressive overall response rate (ORR) of 81% in CLL/SLL patients, with a significant number maintaining their response beyond one year, indicating strong efficacy and durability of the treatment. Additionally, the safety profile of bexobrutideg appears favorable, with manageable side effects, making it a viable candidate for combination therapies in earlier treatment settings.
Furthermore, the company’s management is preparing to initiate pivotal studies within the year, aiming to support accelerated approval through a single-arm study and a confirmatory study in a second-line setting against a standard of care comparator. This strategic approach, coupled with positive feedback from key opinion leaders on the potential of this therapeutic class, reinforces the optimism surrounding Nurix’s pipeline. The anticipation of these pivotal studies and the potential for broad global registration further solidifies the Buy rating, as these developments could significantly enhance the company’s market position and valuation.

According to TipRanks, Mukherjee is a 3-star analyst with an average return of 3.1% and a 62.50% success rate. Mukherjee covers the Healthcare sector, focusing on stocks such as Arvinas Holding Company, Verastem, and Viking Therapeutics.

In another report released yesterday, Needham also maintained a Buy rating on the stock with a $27.00 price target.