Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
Investing.com - Stifel has reduced its price target on Nurix Therapeutics (NASDAQ:NRIX) to $33.00 from $35.00 while maintaining a Buy rating on the stock. The company, currently trading at $10.24, has shown strong momentum with a 15.78% return over the past week, according to InvestingPro data.
The adjustment comes as Stifel updated its financial estimates to reflect "modestly-higher FY25E+ OpEx" (operating expenses) for the company, according to the research note. InvestingPro analysis shows that while the company is quickly burning through cash, it maintains strong liquidity with a current ratio of 5.35.
Stifel identified the upcoming presentation of updated bexobrutideg Phase 1 dose-escalation and expansion data at ASH (December 2025) as "the next key catalyst" for Nurix, following the company’s recent disclosure of bexobrutideg registrational plans and the planned YECY25 initiation of a registrational single-arm Phase 2 trial.
The firm noted that the ASH presentation should provide "a much better surrogate of competitive positioning," particularly regarding durability as median duration of follow-up approaches approximately 15 months.
Despite the price target reduction, Stifel expressed the view that Nurix’s current enterprise value of under $700 million (fully-diluted) "significantly discounts longer-term risk/reward" for the company. This view aligns with InvestingPro’s Fair Value analysis, which suggests the stock is currently undervalued.
In other recent news, Nurix Therapeutics reported its third-quarter 2025 financial results, revealing a loss of $1.03 per share. This was significantly wider than the analyst expectation of a $0.83 loss per share. The company’s revenue for the quarter was $7.89 million, falling short of the $16.05 million consensus estimate and down from $12.6 million in the same period last year. The decline in revenue was mainly due to decreased collaboration revenue from Sanofi, as the initial research term for certain drug targets concluded. In light of these results, Leerink Partners adjusted its price target for Nurix to $12 from $16, while maintaining a Market Perform rating. Despite the financial challenges, Nurix confirmed that its pivotal trial for the BTK degrader bexobrutideg (bexdeg) in chronic lymphocytic leukemia is on track for initiation in the fourth quarter of 2025. These developments highlight both the ongoing challenges and progress in Nurix’s clinical programs.
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