Stock Track | Oric Pharmaceuticals Surges 5.92% Pre-market on Positive Analyst Coverage

Stock Track11-20

Shares of Oric Pharmaceuticals Inc. (ORIC) soared 5.92% in pre-market trading on Thursday, following a positive initiation of coverage by a prominent Wall Street analyst. The surge in stock price comes as investors react to the bullish outlook for the biopharmaceutical company.

Evercore ISI analyst Cory Kasimov initiated coverage of Oric Pharmaceuticals with an Outperform rating and set a price target of $25. This optimistic stance from a respected financial institution has sparked renewed interest in the company's stock. Kasimov's bullish view suggests potential upside for Oric Pharmaceuticals, which has caught the attention of pre-market traders.

While specific details of Kasimov's analysis were not immediately available, the Outperform rating typically indicates that an analyst expects the stock to outperform its peers or the broader market. This vote of confidence from Evercore ISI could potentially attract more investor attention to Oric Pharmaceuticals and its drug development pipeline in the coming days. As the market opens, it remains to be seen whether this pre-market momentum will carry through into regular trading hours.

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