RBC Capital Starts Nurix (NRIX) at Outperform

RBC Capital analyst Kennen MacKay initiates coverage on Nurix (NASDAQ: NRIX) with an Outperform rating and a price target of $42.00.

The analyst commented, "We like NRIX for its novel platforms aimed at curing cancer. NRIX brings several novel mechanisms of targeting protein degradation machinery to bear with its Chimeric Targeting Molecule (CTM) & Ligase Inhibition Portfolio, which we see as highly competitive among a highly lucrative emerging class of molecules. We like NRIX's multi-platform approach toward oncology drug development with multiple shots on goal de-risking each individual product/mechanism. We initiate with a $42/sh PT and Outperform/Speculative Risk rating based on valuation towards NX-2127 ($16/sh), NX-1607 ($16/sh), & cash ($10/sh)."

For an analyst ratings summary and ratings history on Nurix click here. For more ratings news on Nurix click here.

Shares of Nurix closed at $34.74 yesterday.

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