ORIC Pharmaceuticals (ORIC) Surges as Intriguing ESMO Asia Data for Enozertinib Prompts Wells Fargo to Assign Higher Value

ORIC Pharmaceuticals Inc. (NASDAQ:ORIC) is one of the stocks that will double in 2026. On December 8, Wells Fargo raised the firm’s price target on Oric Pharmaceuticals to $25 from $19 and maintained an Overweight rating on the shares. Although enozertinib has previously been overshadowed by ORIC-944, the intriguing data presented at ESMO Asia is significant enough for Wells Fargo to believe that investors should begin to assign greater value to this asset. The firm thinks that the company’s shares should experience an upward trend in trading.

Earlier in Q3 2025, ORIC Pharmaceuticals highlighted significant progress toward initiating potential Phase 3 trials for its two lead candidates in 2026 and confirmed a strong financial position. ORIC’s cash, cash equivalents, and investments totaled ~$413.0 million as of September 30. This amount includes $125 million from a private placement financing in May 2025 and $117.6 million in net proceeds raised year-to-date under its ATM program.

This capital is expected to fund the company’s operating plan into the second half of 2028 and beyond the anticipated primary endpoint readouts from the first Phase 3 trials for both ORIC-944 and enozertinib. However, the company also recorded a loss per share of $0.33.

ORIC Pharmaceuticals Inc. (NASDAQ:ORIC) is a clinical-stage biopharmaceutical company that discovers and develops therapies to counter the resistance mechanisms of cancers in the US.

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Disclosure: None. This article is originally published at Insider Monkey.