ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reissued their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $17.00 target price on the stock.

Several other equities analysts have also weighed in on ORIC. Cantor Fitzgerald restated an overweight rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Citigroup reduced their price objective on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a buy rating for the company in a research report on Tuesday, May 7th. HC Wainwright raised their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a buy rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an overweight rating for the company in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $19.50.

ORIC Pharmaceuticals Stock Down 0.1 %

Shares of ORIC opened at $9.33 on Wednesday. The firm has a 50-day moving average price of $8.39 and a 200 day moving average price of $10.19. The firm has a market capitalization of $629.03 million, a PE ratio of -5.18 and a beta of 1.14. ORIC Pharmaceuticals has a 52-week low of $5.27 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, May 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. On average, equities analysts expect that ORIC Pharmaceuticals will post -1.68 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ORIC. China Universal Asset Management Co. Ltd. purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth approximately $58,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ORIC Pharmaceuticals by 6.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock worth $203,000 after purchasing an additional 1,362 shares in the last quarter. Strs Ohio purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth approximately $72,000. Victory Capital Management Inc. lifted its position in shares of ORIC Pharmaceuticals by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock worth $1,159,000 after purchasing an additional 1,180 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of ORIC Pharmaceuticals by 18.3% in the fourth quarter. M&T Bank Corp now owns 83,926 shares of the company’s stock worth $772,000 after purchasing an additional 12,962 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.