In a report released on February 7, Derek Archila from Wells Fargo maintained a Buy rating on Oric Pharmaceuticals (ORIC – Research Report), with a price target of $20.00.
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Derek Archila has given his Buy rating due to a combination of factors that suggest a favorable outlook for Oric Pharmaceuticals. One significant aspect is the promising data from Pfizer’s Mevrometostat, which serves as a de-risking catalyst for ORIC-944. The data from Mevrometostat’s trials, especially in the post-abiraterone and limited chemotherapy patient populations, provide validation for ORIC-944’s mechanism of action, reinforcing confidence in its potential success.
Furthermore, the risk/reward profile for ORIC-944 appears highly advantageous, with expectations of meaningful developments at the upcoming ASCO-GU conference. The favorable comparison between Mevrometostat’s expected trial outcomes and ORIC-944’s ongoing studies contributes to a positive investment sentiment. These factors combined underpin Derek Archila’s optimism and Buy rating for Oric Pharmaceuticals.
According to TipRanks, Archila is a 4-star analyst with an average return of 6.5% and a 44.42% success rate. Archila covers the Healthcare sector, focusing on stocks such as ACELYRIN, INC., Incyte, and Arvinas Holding Company.
In another report released on February 7, Wedbush also maintained a Buy rating on the stock with a $20.00 price target.