Oric Pharmaceuticals (ORIC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Soumit Roy from JonesTrading maintained a Buy rating on the stock and has a $17.00 price target.
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Soumit Roy has given his Buy rating due to a combination of factors influencing Oric Pharmaceuticals’ outlook. The anticipation of favorable results from Pfizer’s trial data at the ASCO GU conference plays a crucial role. The trial involves a combination of mevrometostat and Xtandi, which is expected to show a significant benefit in progression-free survival compared to Xtandi alone for patients with metastatic castration-resistant prostate cancer.
Additionally, the market projections for ORIC’s EED inhibitor, known as ‘944, in the same cancer type post Zytiga treatment, are promising, with an anticipated peak sales figure of approximately $575 million by 2036. This optimistic forecast, combined with a projected market penetration rate of 35-40%, supports the positive outlook for Oric Pharmaceuticals, justifying the Buy rating by Roy.
According to TipRanks, Roy is an analyst with an average return of -23.8% and a 18.46% success rate. Roy covers the Healthcare sector, focusing on stocks such as Chimerix, Elicio Therapeutics, and aTyr Pharma.