ORIC Pharmaceuticals (NASDAQ:ORIC) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for ORIC Pharmaceuticals’ FY2024 earnings at ($1.82) EPS.

Several other research analysts also recently weighed in on the stock. Oppenheimer reduced their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating for the company in a research report on Tuesday, August 13th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a buy rating and a $20.00 price target for the company. HC Wainwright restated a buy rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Finally, Wedbush reaffirmed an outperform rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $18.00.

ORIC Pharmaceuticals Trading Up 3.6 %

Shares of ORIC opened at $10.36 on Monday. The firm has a market cap of $730.79 million, a P/E ratio of -5.76 and a beta of 1.12. ORIC Pharmaceuticals has a 12 month low of $5.27 and a 12 month high of $16.65. The stock’s 50 day moving average is $10.06 and its two-hundred day moving average is $9.89.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Equities research analysts forecast that ORIC Pharmaceuticals will post -1.78 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC raised its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares during the period. XTX Topco Ltd acquired a new position in ORIC Pharmaceuticals in the second quarter valued at approximately $153,000. Cornercap Investment Counsel Inc. purchased a new position in ORIC Pharmaceuticals in the second quarter worth approximately $154,000. Finally, Profund Advisors LLC increased its stake in ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after acquiring an additional 4,175 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.