Truist raises NRIX target after Roche secures exclusive rights to blood cancer drug in $2.3 billion partnership.
Truist analyst Gregory Renza increased Nurix Therapeutics Inc. (NASDAQ:NRIX) price target to $32 from $30, maintaining a Buy rating. The adjustment follows a $2.3 billion licensing agreement with Roche for bexdeg, a blood cancer drug in development.
The deal includes $700 million upfront and milestone payments tied to clinical and regulatory progress. Roche plans Phase III trials this summer, with a potential launch around 2030. Truist cited the partnership as strategically sound, validating bexdeg’s clinical potential and strengthening Nurix’s financial position.
Nurix shares reflect optimism over the collaboration, which targets chronic lymphocytic leukemia and expands into inflammatory and neurological disorders.