ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Recommendation of “Buy” from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.29.

A number of equities research analysts have issued reports on ORIC shares. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of ORIC Pharmaceuticals by 140.5% in 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 purchasing an additional 915,175 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ORIC Pharmaceuticals by 62.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after buying an additional 71,394 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of ORIC Pharmaceuticals in the 2nd quarter valued at $724,000. Creative Planning bought a new position in shares of ORIC Pharmaceuticals during the 3rd quarter worth about $116,000. Finally, Monaco Asset Management SAM lifted its holdings in shares of ORIC Pharmaceuticals by 132.0% during the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after acquiring an additional 171,650 shares during the period. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 1.7 %

ORIC stock opened at $9.97 on Friday. The firm has a market cap of $703.58 million, a PE ratio of -5.44 and a beta of 1.13. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The company has a fifty day simple moving average of $9.61 and a 200 day simple moving average of $9.32.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results 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). As a group, analysts forecast that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

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.