Jefferies initiates Nurix Therapeutics with "buy", sets Street-high PT

Nurix Therapeutics

11/10/2024 11:12

** Jefferies initiated coverage on drug developer Nurix
Therapeutics  NRIX.O  with "buy" and a PT of $41, a Wall Street
high per data compiled from LSEG
    ** Jefferies "buy" is stock's first bullish rating since
July - LSEG
    ** Brokerage's PT represents a ~88% upside to stock's last
close
    ** Co's early-stage data from its protein modulation drugs
for treating cancer and inflammation diseases is promising and
has a "pivotal potential" in 2025 - Jefferies
    ** Brokerage estimates combined peak adjusted sales of about
$2.8 bln for the drug
    ** Avg rating of 13 analysts tracking NRIX is "buy"; their
median PT is $30
    ** As of last close, stock has more than doubled in value

 (Reporting by Kashish Tandon)
 ((Kashish.tandon@thomsonreuters.com))