J.P. Morgan analyst Anupam Rama has maintained their bullish stance on ORIC stock, giving a Buy rating today.
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Anupam Rama’s rating is based on promising data from the phase 1 dose expansion study involving an EZH2 inhibitor, which is part of Oric Pharmaceuticals’ initiatives. The outcomes indicate a higher-than-expected efficacy in combination with Xtandi, particularly in metastatic castration-resistant prostate cancer, which bolsters confidence in the ORIC-944 program.
Additionally, the safety profile for the combination therapy was generally manageable, with no treatment-related fatalities reported. These clinical results suggest a robust potential for ORIC-944, positioning ORIC shares favorably in the market. As a result, Anupam Rama reiterated an Overweight rating and included ORIC in the Analyst Focus List, citing the long-term promise of ORIC’s development pipeline.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $20.00 price target.