Nurix Therapeutics, Inc. (NRIX)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$25.34-0.67%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Nurix Therapeutics, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-11-30
Revenue	—	37.95M
EPS	—	-0.414
Quarter ending 2027-02-28
Revenue	—	15M
EPS	—	-0.59
Annual ending 2026-11-30
Revenue	—	681.8M
EPS	—	2.352
Annual ending 2027-11-30
Revenue	—	99.61M
EPS	—	-2.126

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Operating income improves from -$92.5M in 2026-Q1	A primary condition in Nurix Therapeutics, Inc.'s published investment case. The stated target is Operating loss less negative than -$92.5 million.	Under Pressure	Operating loss worsens beyond -$100 million in 2026-Q1	Operating income: $559.451M FY2026-Q3; GAAP. Published target: Operating loss less negative than -$92.5 million. The stored target says 2026-Q1; this source reports FY2026-Q3. Fiscal/calendar alignment needs review. Source published Oct 13, 2026559,451,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q3 · Period ending Aug 31, 2026 Source: company_financial_results. Reference: ef9dc018-c422-4781-ac29-8dc13024989d. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue at or above $84M in fiscal 2025	A primary condition in Nurix Therapeutics, Inc.'s published investment case. The stated target is >= $84 million.	Broken	Revenue falls below $60 million in fiscal 2025	Revenue: $673.064M FY2026-Q3; GAAP. Published target: >= $84 million. Target period ends 2025-11-30; this observation covers 2026-Q3. Source published Oct 13, 2026673,064,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q3 · Period ending Aug 31, 2026 Source: company_financial_results. Reference: ef9dc018-c422-4781-ac29-8dc13024989d. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Successful strategic partnership with Roche	A supporting condition in Nurix Therapeutics, Inc.'s published investment case. The stated target is Maintain active collaboration with Roche through 2026.	Intact	Partnership with Roche ends or stalls before 2027	Active partnership confirmed (June 2026 agreement, Sept 2026 milestone) Nurix signed a definitive agreement with Roche in June 2026 and received a $7m milestone payment in September 2026. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Nurix announced and executed a global collaboration with Roche including a $700 million upfront payment and potential total payments up to $2.3 billion. Development costs are shared 40% Nurix/60% Roche, with U.S. profits split equally. This collaboration is a major strategic step and management is delivering on the partnership execution. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-11-30 · fmp

FY2027 EPSUnavailable

$-2.21 → Unavailable · observed estimates

FY2027 revenueUnavailable

$0.09B → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-2.21	$92,862,400	11 / 12
2026-07-25	$-2.21	$92,862,400	11 / 12
2026-07-26	$-2.21	$92,862,400	11 / 12
2026-07-27	$-2.15	$96,397,160	10 / 11
2026-07-28	$-2.15	$96,397,160	10 / 11
2026-07-29	Unavailable	Unavailable	4 / 4
2026-07-30	Unavailable	Unavailable	4 / 4
2026-07-31	Unavailable	Unavailable	4 / 4
2026-08-01	$-2.00	Unavailable	5 / 4
2026-08-02	$-2.00	Unavailable	5 / 4
2026-08-03	$-2.00	Unavailable	5 / 4
2026-08-04	$-2.00	Unavailable	5 / 4
2026-08-05	$-2.00	Unavailable	5 / 4
2026-08-06	$-2.00	Unavailable	5 / 4
2026-08-07	$-2.00	Unavailable	5 / 4
2026-08-08	Unavailable	Unavailable	4 / 4
2026-08-09	Unavailable	Unavailable	4 / 4
2026-08-10	$-2.00	Unavailable	5 / 4
2026-08-12	$-2.00	Unavailable	5 / 4
2026-08-13	$-2.00	Unavailable	5 / 4
2026-08-14	$-2.00	Unavailable	5 / 4
2026-08-15	$-2.00	Unavailable	5 / 4
2026-08-16	$-2.00	Unavailable	5 / 4
2026-08-17	$-2.00	Unavailable	5 / 4
2026-08-18	$-2.00	Unavailable	5 / 4
2026-08-19	$-2.00	Unavailable	5 / 4
2026-08-20	$-1.99	Unavailable	5 / 4
2026-08-21	$-1.99	Unavailable	5 / 4
2026-08-22	$-1.99	Unavailable	5 / 4
2026-08-23	$-1.99	Unavailable	5 / 4
2026-08-24	$-1.99	Unavailable	5 / 4
2026-08-25	$-1.99	Unavailable	5 / 4
2026-08-26	$-1.99	Unavailable	5 / 4
2026-08-27	$-1.99	Unavailable	5 / 4
2026-08-28	$-1.99	Unavailable	5 / 4
2026-08-29	$-1.99	Unavailable	5 / 4
2026-08-30	$-2.01	Unavailable	5 / 4
2026-08-31	$-2.01	Unavailable	5 / 4
2026-09-01	$-2.01	Unavailable	5 / 4
2026-09-02	$-2.01	Unavailable	5 / 4
2026-09-03	$-2.01	Unavailable	5 / 4
2026-09-04	$-2.01	Unavailable	5 / 4
2026-09-05	$-2.01	Unavailable	5 / 4
2026-09-06	Unavailable	Unavailable	4 / 4
2026-09-07	Unavailable	Unavailable	4 / 4
2026-09-08	Unavailable	Unavailable	4 / 4
2026-09-09	Unavailable	Unavailable	4 / 4
2026-09-10	Unavailable	Unavailable	4 / 4
2026-09-11	Unavailable	Unavailable	4 / 4
2026-09-12	Unavailable	Unavailable	4 / 4
2026-09-13	Unavailable	Unavailable	4 / 4
2026-09-14	Unavailable	Unavailable	4 / 4
2026-09-15	Unavailable	Unavailable	4 / 4
2026-09-16	Unavailable	Unavailable	4 / 4
2026-09-17	Unavailable	Unavailable	4 / 4
2026-09-18	Unavailable	Unavailable	4 / 4
2026-09-19	Unavailable	Unavailable	4 / 4
2026-09-20	Unavailable	Unavailable	4 / 4
2026-09-21	Unavailable	Unavailable	4 / 4
2026-09-22	Unavailable	Unavailable	4 / 4
2026-09-23	Unavailable	Unavailable	4 / 4
2026-09-24	Unavailable	Unavailable	4 / 4
2026-09-25	Unavailable	Unavailable	4 / 4
2026-09-26	Unavailable	Unavailable	4 / 4
2026-09-27	Unavailable	Unavailable	4 / 4
2026-09-28	Unavailable	Unavailable	4 / 4
2026-09-29	Unavailable	Unavailable	4 / 4
2026-09-30	Unavailable	Unavailable	4 / 4
2026-10-01	Unavailable	Unavailable	4 / 4
2026-10-02	Unavailable	Unavailable	4 / 4
2026-10-03	Unavailable	Unavailable	4 / 4
2026-10-04	Unavailable	Unavailable	4 / 4
2026-10-05	Unavailable	Unavailable	4 / 4
2026-10-06	Unavailable	Unavailable	4 / 4
2026-10-07	Unavailable	Unavailable	4 / 4
2026-10-08	Unavailable	Unavailable	4 / 4
2026-10-09	Unavailable	Unavailable	4 / 4
2026-10-10	Unavailable	Unavailable	4 / 4
2026-10-11	Unavailable	Unavailable	4 / 4
2026-10-12	Unavailable	Unavailable	4 / 4
2026-10-13	Unavailable	Unavailable	4 / 4
2026-10-14	Unavailable	Unavailable	4 / 4
2026-10-15	Unavailable	Unavailable	3 / 3
2026-10-16	Unavailable	Unavailable	3 / 4
2026-10-17	Unavailable	Unavailable	3 / 4
2026-10-18	Unavailable	Unavailable	4 / 4
2026-10-19	Unavailable	Unavailable	4 / 4
2026-10-20	Unavailable	Unavailable	4 / 4
2026-10-21	Unavailable	Unavailable	4 / 4
2026-10-22	Unavailable	Unavailable	4 / 4
2026-10-23	Unavailable	Unavailable	4 / 4
2026-10-24	Unavailable	Unavailable	4 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	17	0
2026-06-01	17	1
2026-07-01	15	1
2026-08-01	15	1
2026-09-01	15	1
2026-10-01	13	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 13 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades6 maintains

Recent actions · Sep 25–Oct 24 · 6 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

H.C. WainwrightOct 16 · prior Jul 10

$34.00 → $36.00+5.9%

Truist FinancialOct 13 · prior Jul 10

$34.00 → $33.00-2.9%

Stifel NicolausOct 13 · prior Jul 10

$40.00 → $41.00+2.5%

Robert W. BairdOct 13 · prior Jun 18

$33.00 → $36.00+9.1%

RBC CapitalOct 13 · prior Jul 10

$33.00 → $35.00+6.1%

OppenheimerOct 13

$32.00New observation · no comparable prior

$0$22.55$45.10

4 raises · 1 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Operating income improves from -$92.5M in 2026-Q1Published status: Under Pressure
Revenue at or above $84M in fiscal 2025Published status: Broken

Next proof point

Next earnings date unavailable

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-32.8%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Nurix Therapeutics, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a clinical-stage biotechnology company with a partnership-supported development program, not a proven profitable compounder. The thesis has improved as recent financial performance recovered and management advanced key programs, but it remains in a watch state with elevated risk.

What's priced into Nurix Therapeutics, Inc.

The evidence describes NRIX as cheap versus peers, while also flagging that expectations are stretched; the valuation model has low confidence. The expectations gap is 0.23, but the snapshot does not explain its scale or meaning, so it offers limited clarity on what the market assumes.

What the fundamentals likely do

Near term, earnings risk is elevated: NRIX missed its two most recent quarters, and the snapshot flags a high chance of another miss. Over the multi-year view, the Roche collaboration provides substantial development support, while pivotal CLL trials have advanced; progress in immunology and neurology is ongoing but remains mixed.

What Nurix Therapeutics, Inc. hinges on

A guidance cut on the next call or further weakening in jobs data could weigh on the outlook, while strong results and guidance from Healthcare bellwethers could support sector momentum. The central multi-year swing factors are execution of the Roche partnership and progress in the CLL trials and planned expansion studies.