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- SVB Leerink raised the price target on Nurix Therapeutics Inc (NASDAQ:NRIX) to $64 from $50, with an Outperform rating, seeing an upside of almost 92%.
- Analyst Christopher Liu notes that Nurix presented preliminary NX-2127 pharmacokinetics/pharmacodynamics data.
- Liu believes that this data is "encouraging," as the asset, at the second dose level of 200 mg QD, demonstrated 91%-plus BTK degradation, which is similar to or higher than the BTK occupancy rate for BTK inhibitors.
- In addition, no key adverse events associated with BTK inhibitors were observed, which could facilitate differentiation in CLL and potentially open up the DLBCL opportunity, he contends.
- As a result, the analyst increased his weighted average probability of success for NX-2127 in CLL from 23% to 33%.
- Last week, SVB initiated coverage on Nurix with a price target of $50, an upside of approximately 50%.
- Price Action: NRIX shares are up 18.50% at $34.31 during the market session on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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