Stifel Boosts Nurix Therapeutics Price Target to $35, Citing 2026 as Pivotal Year for Key Drug Candidate
In a note to clients on Monday, investment firm Stifel raised its price target for clinical-stage biopharma Nurix Therapeutics (NASDAQ: NRIX) from $33 to $35, reiterating a Buy rating. The adjustment reflects growing confidence in the company's lead drug candidate, bexobrutinib, as it advances toward key regulatory trials set for 2026.
Stifel analysts highlighted that 2026 is poised to be a catalyst-rich year for Nurix, with management expected to progress two registrational studies for bexobrutinib and provide further Phase 1 data updates. The drug, a Bruton's tyrosine kinase (BTK) degrader, is being studied for treating B-cell malignancies and autoimmune conditions.
"We see 2026 as a defining period for Nurix," the Stifel report stated. "Successful trial progression could significantly de-risk the platform and validate their DELigase technology."
On the same day, however, Wells Fargo took a more cautious near-term view, lowering its price target from $30 to $29 while maintaining an Overweight rating. Wells Fargo analysts noted that while 2026 may lack major clinical readouts, shares remain undervalued and could see momentum build in late 2026 ahead of more substantial catalysts in 2027.
Nurix Therapeutics is focused on developing targeted protein modulation therapies through its proprietary DELigase platform, which aims to harness the body's ubiquitin system to degrade disease-causing proteins. The company's pipeline targets oncology and immunology indications with high unmet need.
Market Context & Analyst Commentary
The contrasting target adjustments underscore the nuanced outlook for pre-commercial biotech stocks, where valuation often hinges on the timing of clinical milestones. Nurix shares have been volatile over the past year, reflecting both optimism for its platform and the inherent risks of drug development.
What Readers Are Saying
Dr. Anya Sharma, Oncology Researcher at Broad Institute: "The BTK degrader approach is scientifically compelling. If Nurix can show clean safety and durable responses, it could meaningfully shift treatment paradigms in lymphoma and autoimmune disease."
Michael Torres, Portfolio Manager at Clearwater Capital: "Stifel's move seems reasonable given the upcoming milestones. I'm more aligned with Wells Fargo on timing—this is a 2027 story, but accumulating on weakness makes sense for long-term biotech investors."
David Chen, Retail Investor & Biotech Commentator: "Here we go again—analysts tweaking numbers by a dollar or two to generate headlines. Until we see actual clinical data that beats standard care, this is just noise. The whole BTK space is getting crowded."
Rebecca Flynn, Healthcare Strategist at MedTech Insights: "The divergent targets actually tell a coherent story: both firms see value, but differ on when it materializes. That's typical for innovative platforms like Nurix's. Execution in 2026 will be critical."