Wells Fargo Reaffirms a Buy Rating on Nurix Therapeutics (NRIX), Sets a $30 PT

Nurix Therapeutics, Inc. (NASDAQ:NRIX) is one of the best small cap stocks to buy with huge upside potential. On December 16, Wells Fargo analyst Derek Archila reaffirmed a Buy rating on Nurix Therapeutics, Inc. (NASDAQ:NRIX) with a $30 price target.

In a separate development, Nurix Therapeutics, Inc. (NASDAQ:NRIX) announced on December 8 new clinical data from patients with relapsed or refractory Waldenström macroglobulinemia (WM) treated in the Phase 1 clinical trial of its Bruton’s tyrosine kinase (BTK) degrader bexobrutideg (NX-5948). Management reported an objective response rate (ORR) of 75.0%, including three very good partial responses (VGPR) in heavily pre-treated Waldenström macroglobulinemia patients.

Nurix Therapeutics, Inc. (NASDAQ:NRIX) added that the  median duration of response (DOR) and median progression-free survival (PFS) have not been reached, with a median follow up of 8.1 months. However, favorable tolerability and encouraging efficacy support the continued development of bexobrutideg in Waldenström macroglobulinemia, as it was well tolerated in patients with WM.

Furthermore, adverse events were “predominantly low grade”, with the most common being thrombocytopenia (19.4%), neutropenia (29.0%), petechiae (29.0%), diarrhea (25.8%), anemia (22.6%), and purpura/contusion (22.6%). No dose limiting toxicities were observed, along with no grade 5 AEs.

Nurix Therapeutics, Inc. (NASDAQ:NRIX) is a clinical-stage biopharmaceutical company that discovers, develops, and commercializes innovative small molecules and antibody therapies as a novel treatment approach for inflammatory conditions, cancer, and other challenging diseases.

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Disclosure: None. This article is originally published at Insider Monkey.