Analyst Soumit Roy of JonesTrading maintained a Buy rating on Oric Pharmaceuticals, retaining the price target of $20.00.
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Soumit Roy has given his Buy rating due to a combination of factors that highlight ORIC Pharmaceuticals’ promising developments. The company has reported provisional recommended Phase 2 doses (RP2Ds) for ORIC-944, which will be tested in combination with Nubeqa and Erleada in a Phase 1b trial. The incremental data update from the dose exploration part of the trial shows positive results, with a significant percentage of patients achieving PSA50 reduction and ctDNA clearance. These results are consistent across all dose levels, suggesting the potential effectiveness of the treatment.
Additionally, ORIC’s enozertinib, a competitive asset in the EGFR mutated NSCLC program, is expected to provide meaningful updates in the near future. Although there are challenges due to competition from other EGFR TKIs, the anticipated data updates in the fourth quarter of 2025 could significantly enhance ORIC’s position in the market. These developments, alongside the company’s strong cash position, contribute to the positive outlook and justify the Buy rating.
Roy covers the Healthcare sector, focusing on stocks such as Protara Therapeutics, CervoMed, and Cullinan Management. According to TipRanks, Roy has an average return of -17.3% and a 26.41% success rate on recommended stocks.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $15.00 price target.