Analyst Cuts Nurix Therapeutics Price Target By 38%, Cites Lymphoma Data
Portfolio Pulse from Vandana Singh
HC Wainwright analyst Robert Burns has lowered the price target for Nurix Therapeutics Inc (NRIX) from $53 to $33, citing higher operating expenses and a decrease in the terminal growth rate. This comes after Nurix presented clinical and preclinical data from its targeted protein degradation programs, NX-5948 and NX-2127. The analysts also compared Nurix's results with Merck & Co Inc's (MRK) BELLWAVE-001 trial results, noting that nemtabrutinib's response rate is highly encouraging.
July 24, 2023 | 6:14 pm
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NEGATIVE IMPACT
Nurix Therapeutics' price target has been lowered by 38% due to higher operating expenses and a decrease in the terminal growth rate.
The lowered price target for Nurix Therapeutics is due to higher operating expenses and a decrease in the terminal growth rate. This could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Merck & Co Inc's nemtabrutinib's response rate in the BELLWAVE-001 trial was noted as highly encouraging by the analysts.
The analysts' positive note on Merck's nemtabrutinib's response rate in the BELLWAVE-001 trial could potentially have a positive impact on the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50