Nurix stock price target reiterated at $30 by UBS on positive trial data

UBS reiterated its Buy rating and $30.00 price target on Nurix (NASDAQ:NRIX) following the company’s presentation of updated Phase 1a/b data for its BTK degrader bexobrutideg at EHA 2025. Currently trading at $11.94, the stock shows significant upside potential according to analysts, with targets ranging from $16 to $41. The data showed consistent clinical activity in relapsed/refractory chronic lymphocytic leukemia (R/R CLL) and Waldenström’s macroglobulinemia (WM) patients.InvestingPro analysis reveals the company maintains a strong liquidity position with a current ratio of 6.26, though it’s currently unprofitable with rapid cash burn.

The trial results demonstrated overall response rates of 81% in CLL and 84% in WM patients, exceeding the 72% response rate of competitor drug pirtobrutnib in R/R CLL. UBS noted that patient responses deepened over time while maintaining a favorable safety profile with no treatment-related discontinuations or off-target laboratory signals.

While competitor BeOne’s BGB-16673 showed a slightly higher overall response rate of 94%, UBS highlighted bexobrutideg’s potential advantages including CNS penetration, higher potency against resistance mutations, and a differentiated safety profile in the BTK degrader landscape.

Nurix plans to initiate two pivotal trials in 2025 - a single-arm trial in third-line-plus BTKi/BCL2i experienced CLL patients for accelerated approval and a randomized confirmatory trial in second-line-plus BTKi naïve patients.

UBS views bexobrutideg as a potentially transformative BTK degrader in CLL with pivotal data expected in 2026/27 that could drive upside for the company, particularly in addressing high unmet needs for patients who have experienced non-covalent BTK inhibitors. For detailed financial analysis and valuation metrics, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Nurix Therapeutics announced a $15 million license extension fee from Sanofi (NASDAQ:SNY), related to its STAT6 program, which includes the drug candidate NX-3911. This extension is part of a larger deal that could bring Nurix up to $465 million in potential milestones and royalties. In addition, Nurix has maintained a strong partnership with Sanofi, which has shown continued interest in its programs, particularly those targeting STAT6, a protein involved in inflammation. RBC Capital has raised its price target for Nurix to $28 from $27, maintaining an Outperform rating, following promising data for its lead drug candidate, bexdeg, presented at the European Hematology Association meeting. Stifel analysts also reiterated a Buy rating on Nurix stock, with a $35 price target, after Sanofi’s licensing decision. The company’s degrader technology in immunology and inflammation continues to garner interest, with ongoing proof-of-concept work for bexdeg and progress in other programs like STAT6 and IRAK4. Meanwhile, Nurix’s Annual Meeting saw the election of three Class II directors and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm. Stockholders also approved the compensation of the company’s named executive officers, reflecting confidence in the company’s management and strategic direction.

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