Oric Pharmaceuticals (ORIC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Derek Archila from Wells Fargo maintained a Buy rating on the stock and has a $20.00 price target.
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Derek Archila has given his Buy rating due to a combination of factors surrounding Oric Pharmaceuticals’ promising pipeline and financial position. The updates on ORIC-944 and ORIC-114 are on schedule, with ORIC-944 expected to provide significant insights into PSA responses in the first half of 2025, which could serve as a catalyst for the stock. The anticipated dose optimization data in late 2025 and early 2026 is expected to further de-risk the asset and potentially offer meaningful upside for the shares.
Furthermore, ORIC Pharmaceuticals’ financial health is robust, with a cash runway extending into 2027, supporting multiple readouts and the initiation of Phase 3 trials. Despite a year-to-date decline in share price, the stock appears undervalued, particularly given the potential of ORIC-944 and its de-risking relative to competitor data. These elements contribute to the Buy rating, as the shares are seen as attractive at current levels with potential for appreciation as upcoming data releases unfold.
According to TipRanks, Archila is a 4-star analyst with an average return of 6.5% and a 47.06% success rate. Archila covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals, Incyte, and Ascendis Pharma.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $21.00 price target.