Positive Outlook for Oric Pharmaceuticals Driven by Promising Trial Results of Mevrometostat and Xtandi Combination

H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Oric Pharmaceuticals (ORIC – Research Report) today and set a price target of $21.00.

Robert Burns’s rating is based on the promising data from the ASCO GU conference regarding the combination of mevrometostat and Xtandi in the treatment of mCRPC patients. The trial results indicated a higher objective response rate and prostate-specific antigen response when compared to Xtandi alone, suggesting a significant therapeutic potential.
Additionally, the combination therapy demonstrated an improved median radiographic progression-free survival compared to Xtandi alone, which underscores the potential clinical benefits of ORIC-944. The synergy of ORIC-944 with Xtandi, along with its best-in-class drug properties, further supports the positive outlook for the stock. Consequently, Burns maintains a Buy rating with a 12-month price target of $21, reflecting confidence in the future performance of Oric Pharmaceuticals.