Nurix Therapeutics (NRIX): Valuation Check After New NX-5948 Phase 1a/1b Data at ASH 2025
Nurix Therapeutics (NRIX) is back in the spotlight after unveiling fresh Phase 1a/1b data on its BTK degrader NX 5948 at the ASH 2025 meeting, reinforcing a 600 mg dose for Phase 2.
See our latest analysis for Nurix Therapeutics.
The ASH update caps a sharp reversal in sentiment for Nurix, with a roughly 87% 3 month share price return and a still negative 1 year total shareholder return. This suggests that momentum is rebuilding after a tough stretch.
If this kind of clinical inflection point has your attention, it is worth seeing what else is moving in biotech right now with healthcare stocks.
With shares still trading at roughly a 50 percent discount to analyst targets despite a powerful rebound, is Nurix a misunderstood late stage degrader story, or is the market already baking in years of future growth?
Price-to-Sales of 21.9x: Is it justified?
Nurix shares last closed at $18.09, and on that price the stock trades on a rich 21.9 times trailing sales compared with its peers.
The price to sales ratio compares a company’s market value to its revenue, which is often used for earlier stage or loss making biotech names where earnings are negative.
In Nurix’s case, investors are paying a premium multiple versus several benchmarks. This implies the market is already discounting strong future revenue traction and pipeline progress even though the company is still unprofitable.
That premium looks particularly stretched next to both the broader US Biotechs sector at 12 times sales and an estimated fair price to sales ratio near 0.2 times. These levels highlight how far current expectations have run ahead of what regression based fair value relationships would imply.
Explore the SWS fair ratio for Nurix Therapeutics
Result: Price-to-Sales of 21.9x (OVERVALUED)
However, lingering losses, a still negative one year return, and heavy reliance on successful BTK degrader data leave the rebound narrative vulnerable.
Find out about the key risks to this Nurix Therapeutics narrative.
Build Your Own Nurix Therapeutics Narrative
If you see the data differently or want to stress test the assumptions yourself, you can build a personalised Nurix thesis in minutes: Do it your way.
A great starting point for your Nurix Therapeutics research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.
Looking for more investment ideas?
Do not stop with a single biotech. Your next advantage could be hiding in other themes that some investors are quietly positioning around right now.
- Explore potential multi-bagger candidates by reviewing these 3573 penny stocks with strong financials that combine small market caps with balance sheets and cash flows that are strong enough to support real growth.
- Consider the next productivity wave by scanning these 26 AI penny stocks focused on artificial intelligence applications in areas such as automation and data security.
- Seek quality at potentially attractive entry points by targeting these 907 undervalued stocks based on cash flows that trade below certain cash flow measures while still exhibiting resilient fundamentals.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com