Needham reiterates Buy rating on Nurix Therapeutics, $34 price target

H.C. Wainwright raised its price target for Nurix Therapeutics (NASDAQ:NRIX) to $36, citing strong Q3 2026 results with $673.1M in revenue and $4.73 EPS. The firm noted increased expenses due to a Roche transaction but highlighted $1.1B in cash reserves. Analysts have mixed views on NRIX's growth potential, with price targets ranging from $33 to $41.

Nurix Therapeutics reported Q3 2026 revenue of $673.1M, up from $7.9M YoY, driven by Roche license revenue. Net income was $549.8M, a $636.2M swing from a loss last year. Diluted EPS was $4.73. The company advanced clinical trials and expanded partnerships with Roche, Gilead, Sanofi, and Pfizer, receiving $1.2B to date with up to $7.2B in potential milestones and royalties.

Nurix Therapeutics reported Q3 2026 revenue of $673.1M, net income of $549.8M, and $1.1B in cash, driven by a $653.2M license payment from Roche. R&D spending decreased slightly, while G&A rose due to transaction costs. The company advanced clinical programs for bexobrutideg and NX-5948, and presented updated clinical data at EHA 2026.

Nurix Therapeutics, Inc. (NRIX) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 [Nurix logo] Nurix Therapeutics Reports Third Quarter 2026 Financial Results and Provides Corporate Update Dosed first patient in registrational Phase 3 DAYBreak CLL-306 trial comparing bexobrutideg with pirtobrutinib in relapsed/refractory CLL/SLL Advanced bexobruti

Nurix Therapeutics reported Q3 2026 revenue of $673.1M, up 8,426.3% YoY, driven by a Roche licensing deal. Net income was $549.8M, reversing a prior-year loss. Shares fell 2% in after-hours trading. The company has $1.1B in liquidity and a cash runway into 2H 2029. Revenue beat estimates, but much came from one-time license fees.

Nurix Therapeutics (NRIX) reported Q3 2026 net income of $549.81M, reversing a prior-year loss, driven by Roche collaboration revenue. Revenue surged to $673.06M from $7.89M YoY. Cash reserves total $1.1B. Clinical trials for bexobrutideg and NX-1607 advanced, while NX-2127 was discontinued.