HC Wainwright Reaffirms Buy Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Monday, Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 116.94% from the company’s previous close.

ORIC has been the subject of several other research reports. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Oppenheimer decreased their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company began coverage on 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 reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Trading Up 2.1 %

NASDAQ:ORIC opened at $9.68 on Monday. The stock has a market capitalization of $682.83 million, a P/E ratio of -5.53 and a beta of 1.13. ORIC Pharmaceuticals has a 1 year low of $5.85 and a 1 year high of $16.65. The firm has a 50 day moving average of $9.71 and a 200-day moving average of $9.26.

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

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. NEA Management Company LLC bought a new position in ORIC Pharmaceuticals during the 1st quarter worth approximately $20,625,000. Price T Rowe Associates Inc. MD grew its holdings in shares of ORIC Pharmaceuticals by 140.5% in the 1st 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. increased its position in shares of ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after buying an additional 629,536 shares in the last quarter. Millennium Management LLC raised its stake in ORIC Pharmaceuticals by 297.4% during the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after buying an additional 585,447 shares during the period. Finally, First Turn Management LLC lifted its holdings in ORIC Pharmaceuticals by 38.1% during the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock worth $10,718,000 after acquiring an additional 418,389 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.