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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating on ORIC Pharmaceuticals (NASDAQ:ORIC) stock, maintaining its positive outlook on the biopharmaceutical company. Currently trading at $10.41 with a market capitalization of $1 billion, ORIC has garnered strong analyst support, with InvestingPro data showing a highly favorable consensus recommendation of 1.17 (where 1 is a Strong Buy).
The research firm believes ORIC remains significantly undervalued, noting that the current stock price reflects less than 15% probability of success for ORIC-944, the company’s oral PRC2 inhibitor being developed for prostate cancer. According to InvestingPro analysis, the company maintains a strong financial position with more cash than debt and a healthy current ratio of 16.13.
Cantor Fitzgerald points to compelling data from competitor Pfizer’s mevrometostat, which showed a progression-free survival hazard ratio of 0.5 in a controlled prostate cancer trial, suggesting the mechanism has demonstrated effectiveness.
The firm views initial data from ORIC-944 in prostate cancer as differentiated and validating of the treatment approach, strengthening the investment case for the company.
Cantor Fitzgerald sees an attractive risk/reward profile for ORIC over the next 12 months, citing multiple upcoming catalysts including Pfizer’s mevrometostat Phase 3 prostate cancer readout, ORIC-944 updates in prostate cancer expected in early next year, and several updates from the company’s lung cancer asset ORIC-114.
In other recent news, ORIC Pharmaceuticals has garnered attention with several notable developments. The company has been the focus of analyst coverage, with Guggenheim initiating a Buy rating and setting a price target of $18.00, highlighting the potential of ORIC’s lead drug, ORIC-944, for metastatic castration-resistant prostate cancer. Similarly, Ladenburg Thalmann initiated coverage with a Buy rating and a $15.00 price target, citing the promising profile of ORIC-944. Additionally, Jefferies raised its price target for ORIC Pharmaceuticals to $23.00, maintaining a Buy rating due to the company’s strategic focus on its ’944 and ’114 programs, which are set for pivotal trials in 2026.
In corporate news, ORIC Pharmaceuticals has appointed Kevin Brodbeck, PhD, as Chief Technical Officer, a newly created position. This appointment aligns with ORIC’s preparations for potential Phase 3 trials of its cancer treatment candidates, ORIC-944 and enozertinib (ORIC-114), slated for 2026. These developments reflect ORIC’s ongoing efforts to advance its oncology pipeline and strengthen its leadership team.
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