Stifel resumed coverage of ORIC Pharmaceuticals with a Buy rating, citing potential upside from an upcoming Pfizer late-stage trial readout.
ORIC Pharmaceuticals shares climbed Friday following Stifel’s decision to resume coverage with a Buy rating. The firm highlighted a favorable risk-reward profile ahead of data from a Pfizer-run late-stage trial, which could drive further gains.
Prior to the upgrade, ORIC had traded with limited analyst coverage, though sentiment had improved on pipeline progress. The Pfizer trial, expected to read out in the coming months, is seen as a key catalyst for the stock’s trajectory.
The upgrade contributed to a modest intraday gain, reflecting investor optimism about the trial’s potential impact on ORIC’s valuation.