Oric Pharmaceuticals should be bought on selloff, says Citi

Citi recommends using today’s weakness in shares of Oric Pharmaceuticals (ORIC) as a buying opportunity. The 30% pullback is “overdone and misguided,” the analyst tells investors in a research note. Citi cautions against reading into Oric’s selection of darolutamide for the Phase 3 rinzimetostat combination study. It views the decision as “logical” and keeps a Buy rating on Oric shares with a $17 price target The stock in afternoon trading is down 28%, or $3.52, to $9.15.