Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on Oric Pharmaceuticals. The associated price target remains the same with $17.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Soumit Roy has given his Buy rating due to a combination of factors that highlight the promising future of Oric Pharmaceuticals. The company is poised to initiate significant registrational trials in 2026 for its key drugs, ORIC-944 and enozertinib, targeting prostate cancer and EGFR/HER2 mutated lung cancer, respectively. These developments are expected to be bolstered by major data updates in late 2025, which could provide strong validation for their therapeutic approaches.
Additionally, Oric Pharmaceuticals has strengthened its financial position by extending its cash runway into the second half of 2028, following a substantial capital raise. This financial stability, coupled with the strategic termination of pre-clinical R&D, allows the company to focus resources on advancing its clinical-stage programs. The anticipated data releases and the robust cash position are key catalysts that underpin the Buy rating, indicating potential growth and value for investors.
According to TipRanks, Roy is an analyst with an average return of -22.3% and a 20.56% success rate. Roy covers the Healthcare sector, focusing on stocks such as Enliven Therapeutics, Nuvation Bio, and Precision BioSciences.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $19.00 price target.