Intel stock spikes after report of possible US government stake
Investing.com - Jefferies raised its price target on ORIC Pharmaceuticals (NASDAQ:ORIC) to $23.00 from $22.00 on Wednesday, while maintaining a Buy rating on the stock. The new target represents significant upside from the current price of $9.52, aligning with the broader analyst consensus that sets targets between $12 and $25.
The firm’s decision follows ORIC’s second-quarter focus on prioritizing resources for both its ’944 mCRPC and ’114 NSCLC programs, with pivotal trials for both scheduled to begin in 2026.
Jefferies highlighted upcoming catalysts including ’944 mCRPC combination dose-escalation data expected in the second half of 2025 and dose-optimization data in the first quarter of 2026, with key Pfizer Phase III data likely in early 2026.
The firm also noted that comprehensive ’114 NSCLC data across four cohorts is expected in the second half, including first-line EGFRex20 monotherapy results.
ORIC’s cash position has strengthened with pro forma $436.4 million, extending its runway into the second half of 2028, beyond pivotal readouts for both the ’944 and ’114 programs. The company maintains a healthy current ratio of 12.0, with liquid assets well exceeding short-term obligations, and carries minimal debt on its balance sheet.
In other recent news, ORIC Pharmaceuticals has released promising preliminary data from its ongoing Phase 1b trial of ORIC-944, in combination with AR inhibitors, for treating metastatic castration-resistant prostate cancer (mCRPC). The trial showed a 59% PSA50 response rate and a 24% PSA90 response rate, with most adverse events being mild to moderate. This positions ORIC-944 as a potentially best-in-class PRC2 inhibitor. Following these results, H.C. Wainwright maintained its Buy rating with a price target of $22.00, while Cantor Fitzgerald reiterated an Overweight rating, noting the drug’s promising prospects in prostate cancer treatment. Ladenburg Thalmann also initiated coverage with a Buy rating and a $15.00 price target, highlighting ORIC-944’s potential in treating AR-experienced mCRPC. The analysts from Cantor Fitzgerald pointed out the drug’s potential differentiation from Pfizer’s mevrometostat, suggesting a strong opportunity in the therapeutic area. Additionally, they expect more data from ongoing trials later this year, which could further impact the stock. These developments have contributed to a positive outlook on ORIC Pharmaceuticals’ future in the prostate cancer market.
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