ORIC Pharmaceuticals (NASDAQ:ORIC) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Thursday morning, Benzinga reports.

Several other brokerages also recently commented on ORIC. HC Wainwright raised their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a buy rating in a report on Thursday, March 21st. Wedbush raised their target price on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an outperform rating in a report on Friday, March 1st. Citigroup dropped their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a buy rating on the stock in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an overweight rating on the stock in a report on Wednesday, March 27th. Six analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals presently has an average rating of Buy and a consensus price target of $20.00.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $7.23 on Thursday. The company has a market capitalization of $487.45 million, a price-to-earnings ratio of -4.02 and a beta of 1.18. The firm’s 50 day simple moving average is $8.71 and its 200 day simple moving average is $10.31. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. Equities research analysts expect that ORIC Pharmaceuticals will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alkeon Capital Management LLC boosted its position in ORIC Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after purchasing an additional 500,000 shares during the period. Euclidean Capital LLC boosted its position in ORIC Pharmaceuticals by 32.4% during the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after purchasing an additional 241,860 shares during the period. Strs Ohio bought a new position in ORIC Pharmaceuticals during the fourth quarter worth $72,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $58,000. Finally, AJOVista LLC bought a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $40,000. 95.05% of the stock is owned by institutional investors.

About ORIC Pharmaceuticals

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.