ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Consensus Rating of “Buy” by Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $20.00.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. HC Wainwright boosted their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup lowered their price target on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Wedbush boosted their price objective 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Thursday, June 20th.

ORIC Pharmaceuticals Price Performance

NASDAQ ORIC opened at $6.74 on Wednesday. ORIC Pharmaceuticals has a 1-year low of $5.27 and a 1-year high of $16.65. The firm has a market capitalization of $454.41 million, a P/E ratio of -3.74 and a beta of 1.18. The business’s 50-day simple moving average is $8.60 and its 200-day simple moving average is $10.29.

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. On average, equities research analysts expect that ORIC Pharmaceuticals will post -1.68 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several large investors have recently made changes to their positions in ORIC. NEA Management Company LLC purchased a new stake in shares of ORIC Pharmaceuticals in the first quarter valued at $20,625,000. Price T Rowe Associates Inc. MD raised its position in ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after buying an additional 915,175 shares during the period. Vanguard Group Inc. lifted its stake in ORIC Pharmaceuticals by 27.9% in the 1st 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. Alkeon Capital Management LLC boosted its position in ORIC Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after acquiring an additional 500,000 shares during the period. Finally, Euclidean Capital LLC grew its stake in ORIC Pharmaceuticals by 32.4% during the 3rd quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after acquiring an additional 241,860 shares in the last quarter. Institutional investors 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.