Nurix Therapeutics (NRIX) AI Stock Analysis

• Market Cap: $671.64M
• Dividend Yield: N/A
• Average Volume (3M): 1.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.40
• Revenue Growth: -30.25%
• EPS Growth: -5.92%
• Country: US
• Employees: 286
• Sector: Healthcare
• Sector Strength: 70
• Industry: Biotechnology
• EPS (TTM): -2.81
• Shares Outstanding: 76,235,596
• 10 Day Avg. Volume: 1,458,330
• 30 Day Avg. Volume: 1,117,361
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 18.07
• Price to Cash Flow (P/CF): -5.10
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $30.19
• Price Target Upside: 230.31% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17

Nurix Therapeutics faces significant financial challenges with negative profitability and cash flow issues, which heavily impact its stock score. The bearish technical indicators further weigh on the outlook. However, strategic corporate events and appointments provide some optimism for future development and potential turnaround.

Positive Factors

Cash Position

The company maintains a strong cash position (~$550M) with runway into 1H:27.

Financial Performance

Nurix received $18.5M in collaboration revenue in 1Q:25 and an additional $15M license extension fee from Sanofi after the quarter ended.

Regulatory Approval

NX-5948 received FDA orphan drug designation for Waldensrom macroglobulinemia.

Negative Factors

Clinical Risks

Risks include, but are not limited to: negative clinical proof-of-concept for either NX-2127, NX-5948, NX-1607.

Competition

There is notable competition in the space with ONC's BTK degrader BGB-16673 already advancing in a pivotal Ph 2.

Competitive Landscape

Value creation with bexobrutideg is complicated by the robust competitive landscape and tough development path.

Nurix Therapeutics Business Overview & Revenue Model

Company Description

Nurix Therapeutics, Inc. (NRIX) is a biopharmaceutical company focused on the discovery, development, and commercialization of therapies that modulate protein levels as a means of treating a broad range of diseases. The company leverages its proprietary drug discovery platform, DELigase, to develop small molecule inhibitors of E3 ligases, enzymes that play a critical role in the ubiquitin-proteasome system, which regulates protein degradation in cells. Nurix's therapeutic programs primarily target oncology and immune disorders, aiming to address unmet medical needs in these areas.

How the Company Makes Money

Nurix Therapeutics makes money through a combination of partnership revenues, milestone payments, and potential future product sales. The company enters into strategic collaborations with larger pharmaceutical firms, granting them access to its DELigase platform for drug discovery and development in exchange for upfront payments, research funding, and milestone payments based on the achievement of specific development, regulatory, and commercial goals. Additionally, Nurix retains rights to certain programs, which could lead to future revenue from product sales if these therapies successfully reach the market. Partnerships play a significant role in Nurix's revenue model, providing financial resources and shared expertise to advance its therapeutic candidates.

Nurix Therapeutics Financial Statement Overview

Summary

Nurix Therapeutics faces significant challenges in achieving consistent profitability and cash flow generation. The income statement reflects revenue declines and deep negative margins, while the balance sheet shows moderate stability with strong cash reserves but increasing leverage. Cash flow issues are evident with persistent negative operating and free cash flows.

Income Statement

Nurix Therapeutics has struggled with consistent revenue growth and profitability. The company experienced a revenue decline from 2023 to 2024, and consistently negative net income over the years indicates ongoing challenges in achieving profitability. Gross profit margins have been volatile, with periods of negative gross profit, highlighting cost management issues. The EBIT and EBITDA margins are deeply negative, reflecting operating inefficiencies.

Balance Sheet

The balance sheet shows moderate stability with a positive equity position and manageable debt levels. However, the company's debt-to-equity ratio has increased over the years, indicating rising leverage. The equity ratio has declined, reflecting a decrease in the proportion of equity financing. Return on equity is negative, highlighting unprofitable operations. Cash reserves remain strong, providing a buffer against short-term liabilities.

Cash Flow

Nurix Therapeutics' cash flow situation reflects operational challenges, with negative operating cash flow over multiple years. The free cash flow has also been negative, indicating that the company is not generating sufficient cash to cover its capital expenditures. However, financing activities have provided a significant influx of cash, which has helped maintain liquidity.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
54.55M	76.99M	38.63M	29.75M	17.82M
	Gross Profit
54.55M	-112.16M	27.82M	23.67M	-48.67M
	EBIT
-213.03M	-155.06M	-183.87M	-117.89M	-64.98M
	EBITDA
-213.03M	-141.41M	-173.06M	-111.80M	-62.80M
	Net Income Common Stockholders
-193.57M	-143.95M	-166.04M	-117.19M	-43.24M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
609.58M	287.91M	309.14M	295.72M	281.15M
	Total Assets
669.34M	355.60M	416.76M	476.77M	396.34M
	Total Debt
28.30M	30.61M	11.96M	13.04M	0.00
	Net Debt
-81.69M	-24.01M	-52.51M	-67.47M	-119.36M
	Total Liabilities
142.35M	155.10M	113.06M	134.47M	106.07M
	Stockholders Equity
526.99M	200.49M	303.70M	342.30M	290.27M
Cash Flow		Free Cash Flow
-181.86M	-89.77M	-172.05M	-90.03M	-4.63M
	Operating Cash Flow
-172.58M	-81.36M	-159.81M	-84.36M	-80.00K
	Investing Cash Flow
-257.71M	68.30M	27.20M	-108.25M	-254.40M
	Financing Cash Flow
485.67M	3.22M	117.19M	153.88M	339.02M

Nurix Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRIX, the sentiment is Negative. The current price of 9.14 is below the 20-day moving average (MA) of 11.61, below the 50-day MA of 14.45, and below the 200-day MA of 20.35, indicating a bearish trend. The MACD of -1.21 indicates Positive momentum. The RSI at 23.27 is Positive, neither overbought nor oversold. The STOCH value of 7.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NRIX.

Nurix Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MLYS	53 Neutral	$805.53M	―	-82.24%	―	―	-106.10%
RCUS	49 Neutral	$793.81M	―	-59.77%	―	120.51%	25.37%
IOVA	48 Neutral	$1.07B	―	-57.48%	―	13698.99%	31.46%
NRIX	48 Neutral	$671.64M	―	-64.16%	―	-30.25%	-5.92%
Sector *	48 Neutral	$6.25B	1.14	-46.26%	2.69%	19.24%	1.75%
ARVN	46 Neutral	$462.83M	―	-35.41%	―	-39.92%	7.38%
NTLA	41 Neutral	$700.81M	―	-54.00%	―	59.55%	3.09%

Nurix Therapeutics Corporate Events

Nurix Therapeutics Appoints Dr. Roy D. Baynes to Board

On March 11, 2025, Nurix Therapeutics appointed Dr. Roy D. Baynes to its board of directors and as a member of the Clinical and Commercialization Committee. Dr. Baynes, who has extensive experience in hematology and oncology, will contribute to advancing Nurix’s pipeline across oncology and autoimmune indications. His appointment is expected to enhance the company’s clinical development and commercialization efforts, particularly in the face of growing resistance to BTK inhibitors.

Nurix Therapeutics Unveils 2025 Objectives and Achievements

Nurix Therapeutics announced its key objectives for 2025, which include initiating clinical trials for NX-5948, expanding its development for additional cancer and inflammatory diseases, and advancing its portfolio of partnered programs in inflammation and immunology. The company’s achievements in 2024, including significant progress in clinical trials and regulatory advancements for NX-5948, position it for upcoming pivotal studies and further developments in its degrader-based treatment pipeline.