ORIC Pharmaceuticals (NASDAQ:ORIC) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $20.00 price objective on the stock.

ORIC has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Oppenheimer cut their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Price Performance

ORIC stock opened at $9.38 on Thursday. The company’s 50-day moving average is $9.74 and its 200-day moving average is $9.26. The stock has a market capitalization of $661.67 million, a PE ratio of -5.36 and a beta of 1.12. ORIC Pharmaceuticals has a 1 year low of $5.85 and a 1 year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced 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 anticipate that ORIC Pharmaceuticals will post -1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares during the period. Profund Advisors LLC raised its stake in shares of ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after purchasing an additional 4,175 shares during the period. China Universal Asset Management Co. Ltd. grew its position in ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after buying an additional 5,646 shares during the period. Victory Capital Management Inc. increased its holdings in ORIC Pharmaceuticals by 8.3% during the second quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after buying an additional 7,310 shares during the last quarter. Finally, Quest Partners LLC raised its position in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.