ORIC Pharmaceuticals’ (ORIC) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report published on Tuesday, Benzinga reports. They currently have a $20.00 price target on the stock.

A number of other analysts have also recently commented on ORIC. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a buy rating and a $20.00 price target on the stock. Oppenheimer dropped their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald restated an overweight rating on shares of ORIC Pharmaceuticals in a report on Monday, September 9th. Finally, HC Wainwright reaffirmed a buy rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Wednesday, August 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $18.00.

ORIC Pharmaceuticals Trading Up 9.2 %

ORIC opened at $9.89 on Tuesday. ORIC Pharmaceuticals has a 12-month low of $5.27 and a 12-month high of $16.65. The company has a market cap of $697.64 million, a price-to-earnings ratio of -5.49 and a beta of 1.12. The stock has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $10.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after buying an additional 3,188 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of ORIC Pharmaceuticals in the second quarter worth approximately $153,000. Cornercap Investment Counsel Inc. purchased a new position in shares of ORIC Pharmaceuticals during the second quarter valued at approximately $154,000. Finally, Profund Advisors LLC lifted its position in ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after purchasing an additional 4,175 shares during the period. 95.05% of the stock is owned by institutional investors.

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.