Nurix (NRIX) PT Raised to $27 at RBC Capital

RBC Capital analyst Gregory Renza raised the price target on Nurix (NASDAQ: NRIX) to $27.00 (from $26.00) while maintaining a Outperform rating.

The analyst commented: "Following a recent and eventful stretch, NRIX's 2Q24 report and our 1x1 with mgmt highlighted the catalyst set up for 2H24, with a focus on NX-5948's additional clinical data in CLL and NHL (potentially at ASH; our estimates). We expect greater insights on NX-5948's activity and durability at higher doses to enable the expansion dose selection and a pivotal trial start in CLL in 2025. We also look to the development of NX-5948 autoimmune program and other I&I candidates (IRAK4, STAT6) to gain visibility on their potential as additional value-drivers for shares. We adjust our model per the quarter, tweaking our PT upward to $27 from $26 while maintaining our Outperform, Speculative Risk rating."

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