Cory Kasimov, an analyst from Evercore ISI, has initiated a new Buy rating on Oric Pharmaceuticals (ORIC).
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Cory Kasimov’s rating is based on the promising potential of Oric Pharmaceuticals’ lead asset, ORIC-944, which is positioned to make a significant impact in the prostate cancer market. The mechanism of action for ORIC-944 is supported by positive data from Pfizer’s mevrometostat, suggesting a favorable risk-reward scenario. The prostate cancer market is substantial, with androgen receptor pathway inhibitors generating significant sales, and ORIC-944’s potential to partner with large pharmaceutical companies enhances its prospects.
Furthermore, Oric Pharmaceuticals’ second program, ORIC-114, offers additional opportunities in the lung cancer field, despite the competitive landscape. Kasimov’s analysis indicates that ORIC-944 could achieve blockbuster status, with peak sales projections exceeding consensus estimates. The upcoming key catalysts and data readouts are expected to further clarify the differentiation and potential of Oric Pharmaceuticals’ assets, supporting the Buy rating.
In another report released on November 18, J.P. Morgan also maintained a Buy rating on the stock with a $20.00 price target.
ORIC’s price has also changed dramatically for the past six months – from $5.140 to $11.480, which is a 123.35% increase.