Oric Pharmaceuticals price target raised to $23 from $19 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Oric Pharmaceuticals (ORIC) to $23 from $19 and keeps a Buy rating on the shares. Oric Pharmaceuticals reported encouraging early-stage results for ORIC-944 combined with apalutamide or darolutamide in heavily pretreated mCRPC, showing PSA50 responses in over half of patients with a favorable safety profile relative to competing combinations, the analyst tells investors in a research note. Ongoing dose optimization will guide the Phase 3 dose selection for a planned 1H26 registrational trial, and the new data support a higher estimated approval probability of 40%, the firm says.