ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Rating Reaffirmed by Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports.

Several other research analysts also recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock. Oppenheimer lowered their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.00.

ORIC Pharmaceuticals Price Performance

Shares of ORIC opened at $10.75 on Monday. The company has a market capitalization of $724.79 million, a P/E ratio of -5.97 and a beta of 1.12. ORIC Pharmaceuticals has a one year low of $5.27 and a one year high of $16.65. The business’s 50 day simple moving average is $10.06 and its 200-day simple moving average is $9.88.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data 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, sell-side analysts anticipate that ORIC Pharmaceuticals will post -1.78 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in ORIC Pharmaceuticals by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock valued at $929,000 after purchasing an additional 9,424 shares in the last quarter. Millennium Management LLC increased its position in shares of ORIC Pharmaceuticals by 297.4% in the 2nd 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. Squarepoint Ops LLC raised its stake in ORIC Pharmaceuticals by 95.6% during the 2nd quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock worth $240,000 after buying an additional 16,613 shares during the period. Profund Advisors LLC lifted its holdings in ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after acquiring an additional 4,175 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in ORIC Pharmaceuticals in the second quarter valued at about $153,000. 95.05% of the stock is currently 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.