ORIC Pharmaceuticals (NASDAQ:ORIC) Earns Outperform Rating from Wedbush

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating restated by Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $20.00 price target on the stock. Wedbush’s target price suggests a potential upside of 166.31% from the stock’s previous close.

Several other equities research analysts have also issued reports on ORIC. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of “Buy” and an average target price of $18.86.

ORIC Pharmaceuticals Stock Performance

ORIC stock traded up $0.04 during trading on Thursday, hitting $7.51. 619,930 shares of the company’s stock traded hands, compared to its average volume of 586,727. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $15.35. The business has a fifty day simple moving average of $9.11 and a 200 day simple moving average of $9.27. The stock has a market capitalization of $533.41 million, a price-to-earnings ratio of -4.13 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. Research analysts forecast that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in shares of ORIC Pharmaceuticals by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after purchasing an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of ORIC Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ORIC Pharmaceuticals by 8.5% in the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock valued at $193,000 after purchasing an additional 1,876 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of ORIC Pharmaceuticals by 5.4% in the 4th quarter. Swiss National Bank now owns 62,400 shares of the company’s stock valued at $504,000 after purchasing an additional 3,200 shares in the last quarter. 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.