Bradley Canino, an analyst from Guggenheim, has initiated a new Buy rating on Oric Pharmaceuticals (ORIC).
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Bradley Canino has given his Buy rating due to a combination of factors that highlight the potential of Oric Pharmaceuticals’ lead drug, ORIC-944. The drug is a PRC2 inhibitor, which has shown promising results in early trials and is poised to benefit from upcoming data releases. The phase 1 data for ORIC-944 indicates comparable efficacy to Pfizer’s mevrometostat, with a potentially better safety profile due to lower dosing, which could differentiate it in the market.
Canino believes that ORIC-944’s promising efficacy and safety profile, coupled with strategic partnerships with major pharmaceutical companies like JNJ and BAYRY, position Oric Pharmaceuticals well for a fast-follower strategy in the prostate cancer treatment space. The market for mCRPC treatments has historically supported multiple drugs, and ORIC-944’s potential best-in-class properties could capture significant market share. Upcoming data releases and external catalysts, such as Pfizer’s phase 3 trial results, are expected to further validate the PRC2 inhibitor class, making ORIC-944 a compelling investment opportunity.
Canino covers the Healthcare sector, focusing on stocks such as Summit Therapeutics, Kura Oncology, and Syndax Pharmaceuticals. According to TipRanks, Canino has an average return of 7.1% and a 41.21% success rate on recommended stocks.