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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $18.00.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 9th. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, August 14th. 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 began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price objective on the stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC opened at $9.89 on Monday. The firm has a market cap of $666.80 million, a P/E ratio of -5.49 and a beta of 1.12. ORIC Pharmaceuticals has a 52 week low of $5.27 and a 52 week high of $16.65. The firm’s 50-day simple moving average is $9.94 and its 200 day simple moving average is $10.10.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, equities analysts forecast that ORIC Pharmaceuticals will post -1.78 earnings per share for the current year.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently bought and sold shares of ORIC. Vanguard Group Inc. raised its stake in ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after acquiring an additional 629,536 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after purchasing an additional 915,175 shares in the last quarter. First Turn Management LLC lifted its stake in ORIC Pharmaceuticals by 38.1% in the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after purchasing an additional 418,389 shares during the last quarter. NEA Management Company LLC acquired a new stake in ORIC Pharmaceuticals in the first quarter valued at approximately $20,625,000. Finally, Millennium Management LLC grew its stake in shares of ORIC Pharmaceuticals by 297.4% during the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after buying an additional 585,447 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.