Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Target Price at $18.00

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $18.29.

ORIC has been the topic of several research reports. Oppenheimer lowered their price objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Wells Fargo & Company initiated coverage on shares of ORIC Pharmaceuticals in a research report on Thursday. They issued an “overweight” rating and a $20.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ORIC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 in the last quarter. Quest Partners LLC lifted 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 valued at $73,000 after purchasing an additional 7,440 shares during the period. Creative Planning purchased a new stake in ORIC Pharmaceuticals during the third quarter worth about $116,000. China Universal Asset Management Co. Ltd. grew its position in 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 worth $139,000 after buying an additional 5,646 shares during the period. Finally, XTX Topco Ltd purchased a new position in ORIC Pharmaceuticals in the second quarter valued at about $153,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Price Performance

NASDAQ ORIC opened at $9.38 on Tuesday. ORIC Pharmaceuticals has a 12 month low of $5.85 and a 12 month high of $16.65. The company has a market capitalization of $661.68 million, a price-to-earnings ratio of -5.38 and a beta of 1.12. The firm’s fifty day moving average price is $9.73 and its 200 day moving average price is $9.26.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.8 earnings per share for the current year.

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.