Oric Pharmaceuticals selloff a buying opportunity, says JPMorgan

JPMorgan analyst Anupam Rama says Oric Pharmaceuticals (ORIC) shares were down 15% yesterday with Ipsen’s voluntary withdrawal of Tazverik from the market due to secondary hematologic malignancy. On a call, Oric highlighted no malignancies for rinzimetostat in either four week or 13 week toxicity studies in rats and dogs, the analyst tells investors in a research note. JPMorgan cites the potential of rinzimetostat in prostate cancer alone for its Overweight rating on Oric. It recommends buying the shares on yesterday’s selloff.