‘Charts Point to Higher Highs,’ Says Oppenheimer. Here Are 2 Stocks With Over 100% Upside Potential

There are different ways to assess whether it’s time to lean heavily into a certain class of stocks, and according to Oppenheimer’s head of Technical Analysis Ari H. Wald, the charts right now are pointing toward a resurgence in growth.

“Recent points of market discussion have included incremental cracks in value and concurrent relative strength in growth,” Wald noted. “Breaking down the components and their influence on the market, we see growth in a stronger position to the lead the S&P 500 higher than we do value’s current condition to drag it lower.”

Furthermore, adds Wald, relative strength in growth aside, the analyst believes it’s not out of the question that cyclical value has become “tactically attractive vs. defensive value too.”

“These are reasons we think the weight of the market evidence argues for higher highs over the coming months,” Wald went on to add.

Meanwhile, against this backdrop, Wald’s analyst colleagues at Oppenheimer have been busy finding the stocks that are primed for some serious growth; they have clocked an opportunity in two names they see generating gains of over 100% upside from current levels.

Do these choices chime well with other Street experts? Let’s take a closer look.

ORIC Pharmaceuticals (ORIC)

Investors on the lookout for triple-digit gains will often head to the biotech space. ORIC Pharmaceuticals is a clinical-stage biopharma focused on discovering and developing cancer treatments. In fact, its moniker stands for Overcoming Resistance In Cancer.

As with any clinical-stage biotech, it’s the pipeline that matters and ORIC currently has three drugs undergoing Phase 1b trials; ORIC-533 for multiple myeloma, ORIC-114 for EGFR/HER2-mutated cancers, and ORIC-944 for prostate cancer patients. Dosing for all three trials began last year and a data readout from all is anticipated sometime during the second half of the year.

The catalysts ahead offer a turnaround for ORIC. The shares were under pressure last year after the a company announced the development of its experimental cancer drug ORIC-101 was being…


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