Jefferies initiates Nurix Therapeutics with "buy", sets Street-high PT
Updates
** Shares of Nurix Therapeutics NRIX.O rise 6.3% to $23.24
** Jefferies initiated coverage on drug developer with "buy" and a PT of $41, a Wall Street high per data compiled from LSEG
** Jefferies' "buy" is stock's first bullish rating since July - LSEG
** Brokerage's PT represents a ~88% upside to stock's last close
** Co's early-stage data from its protein modulation drugs for treating cancer and inflammation diseases is promising and has a "pivotal potential" in 2025 - Jefferies
** Brokerage estimates combined peak adjusted sales of about $2.8 bln for the drug
** Avg rating of 13 analysts tracking NRIX is "buy"; their median PT is $30
** Including session's gains, stock more than doubles YTD
Reporting by Kashish Tandon
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