Research Analysts Issue Forecasts for ORIC FY2024 Earnings

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Equities researchers at Cantor Fitzgerald lowered their FY2024 EPS estimates for ORIC Pharmaceuticals in a report issued on Wednesday, November 13th. Cantor Fitzgerald analyst P. Agrawal now expects that the company will post earnings of ($1.85) per share for the year, down from their prior estimate of ($1.82). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.85) per share.

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

Other equities analysts have also recently issued research reports about the stock. Oppenheimer decreased 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. 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 price target on the stock. Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals currently has an average rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Trading Down 3.7 %

ORIC stock opened at $8.50 on Monday. The firm’s 50-day moving average price is $9.69 and its two-hundred day moving average price is $9.33. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The stock has a market capitalization of $599.85 million, a price-to-earnings ratio of -4.72 and a beta of 1.13.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in ORIC Pharmaceuticals by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company’s stock worth $13,056,000 after acquiring an additional 50,821 shares in the last quarter. M&T Bank Corp boosted its stake in ORIC Pharmaceuticals by 19.2% during the third quarter. M&T Bank Corp now owns 85,137 shares of the company’s stock worth $873,000 after acquiring an additional 13,711 shares in the last quarter. Barclays PLC boosted its stake in ORIC Pharmaceuticals by 111.2% during the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock worth $1,100,000 after acquiring an additional 56,474 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of ORIC Pharmaceuticals by 42.0% in the third quarter. Wellington Management Group LLP now owns 174,388 shares of the company’s stock worth $1,787,000 after buying an additional 51,565 shares in the last quarter. Finally, Sphera Funds Management LTD. bought a new position in shares of ORIC Pharmaceuticals in the third quarter worth approximately $1,316,000. 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.