Leerink starts coverage on ORIC Pharmaceuticals stock with USD 26 target

Published on 10/07/2026 at 02:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cancer Research UK will fund ORIC-259 studies and early development. ORIC Pharmaceuticals stock had a prior close of EUR 10.64 on October 5, 2026.

ORIC, US68622P1093, Illustration mit AI erstellt.

ORIC Pharmaceuticals (ISIN US68622P1093) had a prior close of EUR 10.64 at Lang & Schwarz on October 5, 2026. On October 5, 2026, Leerink Partners initiated coverage with an Outperform rating and a USD 26.00 price target, according to MarketBeat. The new target is a research view in US dollars, while the German reference value is a separate euro quotation.

ORIC-259 gains a funded path

ORIC announced an agreement with Cancer Research UK on October 5, 2026, to advance ORIC-259, a potential first-in-class small molecule messenger RNA degrader targeting CIP2A, according to GlobeNewswire.

Cancer Research UK's Centre for Drug Development will fully fund, sponsor, design and execute the studies needed for the clinical development program. ORIC retains an exclusive option to reacquire the rights after Phase 1/2 data, while the partner may receive downstream milestone payments and royalties.

Loss and valuation frame the setup

ORIC reported a quarterly loss of USD 0.38 per share for the second quarter of 2026, versus a USD 0.36 consensus estimate, according to MarketBeat. The comparison places the reported adjusted earnings figure USD 0.02 below consensus for that period.

ORIC's market capitalization was USD 1.2 billion as of October 6, 2026. Its 52-week range was USD 7.23 to USD 14.93, putting the valuation picture between a yearly low and high rather than at an extreme.

Analyst target exceeds current frame

The USD 26.00 Leerink target stands against the October 5 prior close of EUR 10.64, so the currencies cannot be combined into one upside calculation. MarketBeat also reported a consensus Moderate Buy rating from 16 analysts and an average target of USD 20.67 on October 5, 2026.

For investors, the central distinction is between a funded clinical opportunity and the company's continuing development losses. The Cancer Research UK agreement reduces ORIC's direct funding burden for ORIC-259, but the release also identifies clinical, regulatory, financing and execution risks for the program.

ORIC stock remains data-led

ORIC Pharmaceuticals had a prior close of EUR 10.64 at Lang & Schwarz on October 5, 2026; the available quote was dated October 6, 2026 and did not establish a valid October 7 daily change. The company is listed on Nasdaq under ticker ORIC and operates in biotechnology.

The further course of trading is shown by the continuously updated real-time quote of ORIC Pharmaceuticals stock.