Nurix Therapeutics, Inc. (NRIX)
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
$26.14+3.24%
Close 2026-09-04 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
Intact: The reason to own it still holds.
Nurix has a strong deal with Roche. Revenue is expected near $84M in 2025. The partnership could help grow sales. Management aims to improve income despite current losses.
Revenue dropped from $13.58M to $6.25M recently. Operating losses grew from $48M to $92M. Management is behind on its income and revenue goals.
The price is about 1% above our fair value near $24. Analysts expect about 10% revenue growth. Our value is 25% below the Street median of $32.
Breaks if: Operating loss worsens beyond -$100 million in 2026-Q1
Breaks if: Revenue falls below $60 million in fiscal 2025
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a speculative growth opportunity. The company is currently loss-making and faces elevated risks, but its recent strategic partnership with Roche offers potential for future growth.
The market appears to have low expectations for Nurix, as indicated by a significant expectations gap. Valuation shows a premium compared to peers, suggesting that the current price may reflect some optimism despite the company's challenges.
Management's focus on improving operating income and increasing revenue has not yet yielded positive results, as both metrics have worsened recently. The near-term risk of missing earnings remains low, but the company operates in a high-miss-rate industry, which adds uncertainty.
The thesis hinges on the company's ability to execute its strategic partnership with Roche and improve its financial performance. Additionally, broader sector trends and the performance of key healthcare peers will play a crucial role in shaping investor sentiment.
The most important moves since the prior daily snapshot.
Yes, our read has weakened. The latest earnings miss impacted the outlook negatively. Roche's changes may affect the strategic partnership dynamics. These factors contribute to a less favorable view on NRIX.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Partnership with Roche ends or stalls before 2027
Execute and expand collaboration with Roche including license and development agreements.
Newly stated in 2026-Q2. Nurix announced a strategic partnership with Roche including a license and collaboration agreement. Guidance expects a $700 million upfront payment from Roche in 2026-Q3. This is a new strategic growth initiative with financial backing evident from the upfront payment guidance.
“Nurix entered into a License and Collaboration Agreement with Roche in June 2026.”
Over the next 1 to 3 years, Nurix's performance will depend on its execution of strategic initiatives and the overall health of the healthcare sector. Not investment advice.