ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.00 Average Price Target from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given a consensus rating of “Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.00.

Several analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 9th. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. Oppenheimer cut their price objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Wednesday, August 14th.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC grew its holdings in ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the period. ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals during the first quarter worth approximately $161,000. China Universal Asset Management Co. Ltd. raised its stake in ORIC Pharmaceuticals by 104.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after buying an additional 6,617 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of ORIC Pharmaceuticals in the first quarter valued at approximately $225,000. 95.05% of the stock is owned by institutional investors.

ORIC Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $9.89 on Monday. The stock has a market cap of $666.80 million, a price-to-earnings ratio of -5.49 and a beta of 1.12. The business has a 50 day simple moving average of $9.94 and a 200 day simple moving average of $10.10. ORIC Pharmaceuticals has a 52-week low of $5.27 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, analysts predict that ORIC Pharmaceuticals will post -1.78 EPS for the current year.

ORIC Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.