Prime Highlights:
- Wells Fargo raised its price target on ORIC Pharmaceuticals to $25, citing encouraging clinical data for enozertinib and improved confidence in the company’s drug pipeline.
- Progress toward Phase 3 trials for ORIC-944 and enozertinib has strengthened investor optimism about the company’s long-term growth potential.
Key Facts:
- ORIC Pharmaceuticals reported having about $413 million in available funds as of September 30, providing financial support into the second half of 2028.
- The company plans to begin potential Phase 3 trials for its two lead cancer drug candidates in 2026, marking a major development milestone.
Background:
ORIC Pharmaceuticals Inc. (NASDAQ: ORIC) drew fresh investor attention after Wells Fargo increased its price target on the stock to $25 from $19, while maintaining an Overweight rating. The move follows encouraging clinical data for enozertinib presented at the ESMO Asia conference, which analysts believe could materially improve the perceived value of the company’s oncology pipeline.
Although enozertinib has historically taken a back seat to ORIC’s other lead program, ORIC-944, Wells Fargo noted that the latest data signals meaningful potential for the asset. The firm said the new data should prompt investors to take a fresh look at the company, as confidence in the drug’s clinical results and long-term development potential has improved. Based on this, the brokerage expects ORIC shares to show a stronger performance in the near to medium term.
This positive view is supported by ORIC’s recent business and financial updates. In the third quarter of 2025, the company reported steady progress toward launching possible Phase 3 trials for its two main drug candidates, ORIC-944 and enozertinib, in 2026. These advanced trials are an important step in developing new treatments designed to tackle cancer drug resistance.
ORIC is also in a solid financial position. This total includes $125 million raised through a private placement in May 2025 and $117.6 million secured so far this year through its at-the-market financing program. The company said the funding should be enough to cover its operations into the second half of 2028, including important results from its first Phase 3 trials.
While ORIC reported a loss of $0.33 per share, this is common for clinical-stage biotechnology companies that are focused on research and development. With growing support from analysts and continued progress across its drug pipeline, ORIC appears well placed as it moves into an important phase of its growth and development.
