In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on Oric Pharmaceuticals (ORIC – Research Report), with a price target of $21.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Robert Burns’s rating is based on the anticipation of several forthcoming clinical catalysts that are expected to drive Oric Pharmaceuticals’ growth. These include multiple presentations of clinical results for ORIC-114 and ORIC-944 over the next few years, which are seen as significant milestones that could enhance the company’s value.
Furthermore, the financial stability of Oric Pharmaceuticals supports this positive outlook, with the company ending 2024 with substantial cash reserves that are projected to sustain operations through late 2026, covering several critical clinical data readouts. The valuation of Oric is also supported by a discounted cash flow analysis, which assumes favorable future market conditions and regulatory approvals, leading to a 12-month price target of $21. Although there are inherent risks, such as potential delays in clinical trials and approval processes, the overall potential for positive outcomes justifies the Buy rating.
Burns covers the Healthcare sector, focusing on stocks such as Exelixis, Replimune Group, and Oric Pharmaceuticals. According to TipRanks, Burns has an average return of -19.3% and a 27.60% success rate on recommended stocks.
In another report released on February 19, Stifel Nicolaus also maintained a Buy rating on the stock with a $20.00 price target.