Nurix Therapeutics Inc Surges on Positive Clinical Data
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 15 2024
0mins
Should l Buy NRIX?
Source: Business Insider
Nurix Therapeutics Inc saw a significant price increase of 18.19%, crossing above its 5-day SMA amid a challenging market environment.
The surge follows the announcement of promising clinical data for Bexobrutideg, which achieved an 83% objective response rate in patients with relapsed or refractory chronic lymphocytic leukemia (CLL) during its Phase 1a study. This data highlights the drug's potential effectiveness and safety profile, encouraging investor confidence.
As Nurix prepares for further clinical trials and discussions regarding Bexobrutideg, the positive results may position the company favorably in the competitive biotech landscape, potentially attracting more investment and interest in its future developments.
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Analyst Views on NRIX
Wall Street analysts forecast NRIX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NRIX is 28.93 USD with a low forecast of 12.00 USD and a high forecast of 41.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
15 Buy
1 Hold
0 Sell
Strong Buy
Current: 15.950
Low
12.00
Averages
28.93
High
41.00
Current: 15.950
Low
12.00
Averages
28.93
High
41.00
About NRIX
Nurix Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of targeted protein degradation medicines, which is aimed at improving treatment options for patients with cancer and inflammatory diseases. Its wholly owned, clinical-stage pipeline includes three investigational drug candidates: NX-5948, a highly selective degrader of Bruton’s tyrosine kinase (BTK); NX-2127, a dual degrader of BTK and transcription factors IKZF1(Ikaros) and IKZF3 (Aiolos); and NX-1607, an inhibitor of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. The Company is also advancing multiple degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Its partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4 and STAT6, as well as multiple additional programs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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