NRIX Explodes 18% as Breakout Targets $27
$Nurix Therapeutics(NRIX)$
Explodes +18.68%: Biotech Breakout Signals $27 Target Zone Activation
Latest Close Data
NRIX closed at $21.47 on December 9th, surging +18.68% (+$3.38), reaching within 6.4% of its 52-week high of $22.95.
The stock broke through key resistance at $18.10 with exceptional volume of 6.06M shares (3.77x average).
Core Market Drivers
Biotech sector momentum continues as institutional investors maintain strong conviction in protein degradation therapeutics.
NRIX benefits from renewed interest in targeted oncology platforms, with recent capital flows showing net positive inflows despite mixed 5-day performance.
Technical Analysis
RSI(6) hit overbought territory at 88.97, while RSI(12) reached 84.11, indicating extreme bullish momentum but potential near-term consolidation.
MACD shows strong bullish divergence with DIF at 1.88 and positive histogram at 0.68, confirming upward momentum remains intact.
Key Price Levels
Primary Support: $18.10 (former resistance now support)
Strong Resistance: $22.95 (52-week high)
Immediate Pivot: $20.21 (today's low, critical hold level)
Valuation Perspective
Trading at 26.01x Price-to-Sales ratio, significantly above biotech sector average of ~8-12x.
However, early-stage therapeutic companies often command premium valuations during breakthrough phases.
Analyst Targets
17 analysts project average target of $27.18 (range: $15-$41). Strong institutional backing with 6 Strong Buys, 10 Buys, and only 1 Hold rating, indicating 94% bullish consensus.
Weekly Outlook
Expect consolidation between $20.21-$22.95 as RSI cools from extreme levels. Break above $22.95 targets $25-$27 zone, while failure to hold $20.21 could trigger retest of $18.10 support.
Risk Disclaimer
Biotech investments carry high volatility and regulatory risks. Past performance doesn't guarantee future results. Consult financial advisors before investing.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
