ORIC Pharmaceuticals (NASDAQ:ORIC) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $21.00 target price on the stock.

ORIC has been the subject of a number of other research reports. Oppenheimer reduced their target price 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. Wedbush restated an outperform rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Cantor Fitzgerald reiterated an overweight rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 9th. Finally, Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a buy rating and a $20.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of Buy and an average price target of $18.00.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ ORIC opened at $11.25 on Wednesday. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The business has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $10.03.

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

Institutional Trading of ORIC Pharmaceuticals

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