JPMorgan analyst Anupam Rama added Oric Pharmaceuticals to the firm’s Analyst Focus List as a near-term idea with an Overweight rating and $16 price target. The shares are currently trading at a negative enterprise value after a difficult 2022, but there is a "meaningful value creation story emerging" with three Phase 1b trials reading out in the first half of 2023, Rama tells investors in a research note. The analyst sees a "choose your own adventure(s) or pick your favorite catalyst" scenario forming, saying positive updates from any one of these programs "have the potential to create meaningful value."
Published first on TheFly
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