Stifel has raised its price objective for Nurix (NASDAQ:NRIX) to $35.00 from $33.00 and maintained a Buy recommendation on the stock. The firm emphasized the critical role that 2026 will play for Nurix’s bexobrutideg program, which is moving forward with two registrational studies - the Phase 2/3 DAYBreak CLL-201 and the 306 trials.
According to InvestingPro data cited in the research note, Nurix shares are trading at $17.65, while analyst targets span a range from $22 to $41, indicating material upside versus the current market price. The stock has delivered notable momentum recently, posting a 50.29% price return over the past six months.
Stifel highlighted the potential value of additional Phase 1 updates from dose-escalation and expansion cohorts, saying those results could sharpen the argument for competitive differentiation against BGB-16673. The research firm also pointed to Nurix’s broader pipeline, noting anticipated progress this year in the company’s wholly owned and partnered immunology and inflammation programs.
Planned milestones called out in the Stifel note include an IND submission for a novel bexobrutideg tablet formulation, completion of Phase 1 GS-6791 data, and a potential IND submission for NX-3911. The firm’s model adjustments incorporated a modest extension of the expected commercialization timeline for bexobrutideg, now projected in the first half of fiscal 2028, along with slightly lower fiscal 2026 operating expense assumptions and revised financing assumptions.
Market metrics cited in the firm’s update include a market capitalization of $1.79 billion and revenue growth of 48.32% over the last twelve months. InvestingPro analysis referenced by the research note also shows a current ratio of 5.35 for Nurix, a measure implying that liquid assets substantially exceed short-term liabilities - an important consideration for a clinical-stage company managing multiple development programs.
The Stifel price-target increase arrives roughly two weeks after Nurix described its calendar-year 2026 goals and objectives, and follows a fourth-quarter fiscal 2025 earnings release that the research firm characterized as lacking any major surprises. For the fourth quarter of fiscal 2025, Nurix reported a net loss of $0.82 per share, which modestly outperformed H.C. Wainwright’s estimate of a $0.84 per share loss.
A number of other brokerages updated their views on Nurix around the same period. H.C. Wainwright raised its target to $32 while maintaining a Buy rating. Piper Sandler moved its target to $35, citing accelerated development plans for bexobrutideg in chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL). RBC Capital increased its target to $30, stating that recent company updates were consistent with prior announcements. BTIG reiterated a Buy rating with a $30 price objective, stressing the advancement of key programs and Nurix’s solid cash position.
Nurix has publicly outlined a 2026 strategy concentrated on pivotal clinical trials for its BTK degrader bexobrutideg, with a focus on relapsed/refractory CLL. The company plans to initiate a Phase 3 trial and to extend the therapy’s application into autoimmune and inflammatory indications via a new tablet formulation.
Stifel’s modeling changes - namely the slightly delayed commercialization timing and adjusted expense and financing assumptions - reflect the firm’s updated view of the program timelines and resource needs as the company moves from early clinical stages toward registrational activity. Investors and market participants will likely watch for Phase 1 cohort updates, IND submissions, and any additional detail around the DAYBreak and 306 trials as near-term catalysts.
Note: The article presents analyst updates, company results, and planned clinical and regulatory milestones as reported in the referenced research notes and corporate disclosures.