Nurix Therapeutics price target lowered to $30 from $32 at Oppenheimer

Oppenheimer analyst Matthew Biegler lowered the firm’s price target on Nurix Therapeutics (NRIX) to $30 from $32 and keeps an Outperform rating on the shares after the company reported financials. The firm says it is “getting a bit tired of the myopic argument that the CLL market is a zero-sum game.” Historically that’s never been the case, says Oppenheimer. Ultimately, the firm sees degraders moving up the pecking order into frontline. By Oppenheimer’s estimates, NX-5948 is 6-12 months behind BeOne, but has advantages in safety and efficacy that can be exploited.