Stifel Maintains Buy Rating on Nurix (NRIX) Stock

On June 3, Stifel Nicolaus analyst Stephen Willey maintained a Buy rating on Nurix Therapeutics, Inc. (NASDAQ:NRIX) with a price target of $35. The reiteration comes after Sanofi exercised its option to exclusively license Nurix’s STAT6 program, particularly the NX-3911 candidate.

On June 2, Nurix Therapeutics, Inc. (NASDAQ:NRIX) announced that Sanofi (NASDAQ:SNY) has decided to exclusively license the STAT6 program. STAT6 is a transcription factor central to IL-4/IL-13 signaling pathways that drive inflammation in allergic conditions such as atopic dermatitis and asthma. The NX-3911 candidate is a STAT6 degrader. Sanofi has paid the company a $15 million license extension fee under their 2019 collaboration agreement, bringing the total payments from Sanofi to Nurix under this collaboration to $127 million so far.

Sanofi Secures Exclusive License for Nurix’s (NRIX) STAT6 Program, Analyst Maintains Buy Rating

A laboratory technician inspecting samples to assess the effectiveness of a CBL-B inhibitor on B-cell malignancies.

Analyst Stephen Willey sees this as positive news for Nurix Therapeutics, Inc. (NASDAQ:NRIX). Moreover, the financial implication of this partnership is also substantial with future milestones potentially reaching $465 million.

Nurix Therapeutics, Inc. (NASDAQ:NRIX) is a clinical-stage biopharmaceutical company focused on developing targeted protein degradation therapies to treat cancer and inflammatory diseases.

While we acknowledge the potential of NRIX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NRIX and that has 100x upside potential, check out our report about the cheapest AI stock.

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