ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Outperform Rating from Wedbush

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $20.00 price objective on the stock. Wedbush’s price target points to a potential upside of 94.93% from the stock’s current price.

A number of other research firms also recently commented on ORIC. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus assumed 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 on the stock. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Oppenheimer lowered their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Trading Down 0.4 %

Shares of ORIC traded down $0.04 during mid-day trading on Tuesday, hitting $10.26. 278,429 shares of the company traded hands, compared to its average volume of 517,175. The business has a 50-day moving average of $9.71 and a 200 day moving average of $9.32. ORIC Pharmaceuticals has a one year low of $5.85 and a one year high of $16.65. The stock has a market capitalization of $723.76 million, a price-to-earnings ratio of -5.86 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its 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). As a group, analysts anticipate that ORIC Pharmaceuticals will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of ORIC Pharmaceuticals by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,900 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of 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 buying an additional 4,175 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of 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 purchasing an additional 7,440 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.