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Oric Pharmaceuticals upgraded to Buy from Neutral at Guggenheim
The Fly

Oric Pharmaceuticals upgraded to Buy from Neutral at Guggenheim

Guggenheim upgraded Oric Pharmaceuticals to Buy from Neutral with a $15 price target. The company is now nearing first clinical Phase I proof of concept data in the second half of 2023 on three pipeline agents, ORIC-144, ORIC-533 and ORIC-944, the analyst tells investors in a research note. The firm says Oric shares currently trade near cash, reflecting only minimal value for the pipeline priced in currently. As such, it sees an "asymmetric risk/reward" heading into the second half of the year with limited potential downside.

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