H.C. Wainwright lowers rating, removes PT on Oric Pharmaceuticals

ORIC Pharmaceuticals

25/03/2022 11:00

** Brokerage H.C. Wainwright lowers rating of drug developer
 ORIC.O  to "neutral" and removes PT after the company scrapped
development program for one of its experimental cancer
treatments
    ** On Monday, ORIC said it would discontinue further
development of its drug, ORIC-101, after early-stage trials did
not demonstrate sufficient clinical activity  urn:newsml:reuters.com:*:nGNX8Xq948
    ** ORIC down 27% for the week thru Thurs close and down 67%
YTD
    ** Other brokerages have taken action through the week:
Oppenheimer and Guggenheim cut to "neutral" or equivalent rating
while Jefferies and Citigroup slashed their PT  urn:newsml:reuters.com:*:nL3N2VP1NQ

 (Reporting by Ankur Banerjee)