Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Oric Pharmaceuticals (ORIC – Research Report). The associated price target remains the same with $17.00.
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Soumit Roy has given his Buy rating due to a combination of factors including promising data from Oric Pharmaceuticals’ ongoing studies. The recent data from Pfizer’s trial, where a similar drug combination showed significant improvements in prostate cancer treatment, highlights the potential for success in Oric’s own programs.
Furthermore, Oric’s ‘944 combined with Erleada exhibited a notable safety profile and promising preliminary results, indicating a strong potential for market penetration and sales growth. The company’s financial position, with substantial cash reserves, provides a solid foundation for continued research and development, underpinning the positive outlook. These factors collectively contribute to the Buy recommendation, projecting significant future value in Oric’s stock.