ORIC Pharmaceuticals’ (ORIC) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report released on Thursday,RTT News reports. They currently have a $20.00 target price on the stock.

A number of other equities research analysts have also weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average target price of $18.86.

ORIC Pharmaceuticals Stock Down 6.4 %

Shares of ORIC stock opened at $7.03 on Thursday. The firm has a market cap of $499.32 million, a price-to-earnings ratio of -3.86 and a beta of 1.25. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $14.67. The company’s 50 day moving average is $9.08 and its 200 day moving average is $9.23.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.01. Analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS purchased a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth about $50,000. BNP Paribas Financial Markets acquired a new stake in ORIC Pharmaceuticals during the fourth quarter worth approximately $71,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ORIC Pharmaceuticals in the 3rd quarter worth approximately $132,000. PNC Financial Services Group Inc. raised its holdings in ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of ORIC Pharmaceuticals during the 4th quarter worth $118,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.