FY2024 EPS Forecast for ORIC Pharmaceuticals Cut by Analyst

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Research analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for shares of ORIC Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst P. Agrawal now anticipates that the company will earn ($1.85) per share for the year, down from their previous estimate of ($1.82). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.85) per share.

ORIC has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. 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 note on Tuesday, August 13th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Trading Up 3.9 %

Shares of ORIC opened at $8.89 on Monday. The firm has a fifty day simple moving average of $9.66 and a two-hundred day simple moving average of $9.33. The firm has a market cap of $627.34 million, a PE ratio of -4.94 and a beta of 1.13. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01).

Hedge Funds Weigh In On ORIC Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Alkeon Capital Management LLC increased its stake in shares of ORIC Pharmaceuticals by 2.6% in the third quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock worth $40,017,000 after purchasing an additional 100,000 shares in the last quarter. Vanguard Group Inc. increased 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 buying an additional 629,536 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 915,175 shares during the period. First Turn Management LLC lifted its position in shares of ORIC Pharmaceuticals by 38.1% in the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after acquiring an additional 418,389 shares in the last quarter. Finally, NEA Management Company LLC bought a new position in shares of ORIC Pharmaceuticals in the first quarter worth about $20,625,000. Hedge funds and other 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.