Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on Oric Pharmaceuticals, retaining the price target of $19.00.
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Robert Burns has given his Buy rating due to a combination of factors, primarily centered around the promising preclinical data for ORIC-944. The data presented at the AACR-NCI-EORTC meeting highlighted ORIC-944’s potential as a best-in-class PRC2 inhibitor, showing its ability to reinforce luminal cell fate and restrict lineage transcription factor accessibility in prostate cancer settings.
Furthermore, the combination of ORIC-944 with androgen receptor inhibitors demonstrated improved survival rates and extended response durations in vivo, particularly in castration-sensitive prostate cancer. This suggests that ORIC-944 could play a significant role in delaying tumor adaptation and enhancing treatment efficacy, supporting the positive outlook for Oric Pharmaceuticals’ stock.
In another report released on October 20, JonesTrading also reiterated a Buy rating on the stock with a $20.00 price target.