Nurix (NRIX) PT Raised to $48 at Needham & Company

April 14, 2021 4:06 PM EDT
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Price: $26.94 -1.61%

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    Up: 38 | Down: 18 | New: 7
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Needham & Company analyst Chad Messer raised the price target on Nurix (NASDAQ: NRIX) to $48.00 (from $44.00) while maintaining a Buy rating.

The analyst commented, "On Tuesday Nurix reported 1Q:21 financial results. The company also presented a fireside chat at the Needham and Company Healthcare Conference Wednesday afternoon and presented NX-1607 preclinical data this past weekend at the American Association for Cancer Research (AACR). NX-1607 showed significant anti-tumor activity in two colon cancer tumor models and in a metastatic triple negative breast cancer model. As the next major catalyst, we look for initial NX-2127 data in B-cell malignancies later this year. After a follow-on offering in March, Nurix ended 1Q:21 with $530.4M in cash pro forma, sufficient for operations well past initial clinical readouts."

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