Nurix Therapeutics assumed with a Buy at Truist

Truist assumed coverage of Nurix Therapeutics (NRIX) with a Buy rating with a price target of $30, up from $23. The firm sees the company’s bexo’s clinical data and pivotal trial start in CLL – chronic lymphocytic leukemia – as a meaningful proof-of-concept for Nurix’s protein degradation platform, the analyst tells investors in a research note. Truist adds that the combination of a de-risked lead program in hem-onc and the broad optionality and catalyst path in I&I – inflammation and immunology – are the central pillars of its investment thesis for the stock.