Oppenheimer lowered the firm’s price target on Oric Pharmaceuticals to $15 from $17 and keeps an Outperform rating on the shares after its Q2 results. The firm isn’t expecting any clinical data from either of Oric’s programs until next year, and the main near-term catalyst for the company is actually from Pfizer (PFE) and its Phase 2 data from mevrometostat, the analyst tells investors in a research note. If positive, the data could clinically derisk the development of Oric’s EED inhibitor ORIC-944, the firm added.
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