ORIC Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Beats Expectations By $0.10 EPS

ORIC Pharmaceuticals (NASDAQ:ORIC) released its quarterly earnings results on Monday. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.10, Zacks reports.

ORIC Pharmaceuticals Trading Up 0.5 %

NASDAQ ORIC opened at $5.70 on Tuesday. The stock has a market capitalization of $405.18 million, a price-to-earnings ratio of -3.13 and a beta of 1.37. The business’s 50 day moving average is $6.12 and its two-hundred day moving average is $8.17. ORIC Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ORIC shares. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus price target of $18.86.

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.