ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Buy” by Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given an average rating of “Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $18.86.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently modified their holdings of ORIC. Charles Schwab Investment Management Inc. increased its holdings in ORIC Pharmaceuticals by 152.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares during the last quarter. Barclays PLC grew its position in shares of ORIC Pharmaceuticals by 111.2% in the 3rd 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. Franklin Resources Inc. increased its holdings in shares of ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock valued at $9,067,000 after acquiring an additional 196,804 shares during the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 1,279 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Up 7.5 %

ORIC opened at $6.29 on Friday. The company has a 50 day moving average of $8.81 and a two-hundred day moving average of $9.15. ORIC Pharmaceuticals has a 52-week low of $5.78 and a 52-week high of $14.67. The company has a market cap of $446.76 million, a P/E ratio of -3.46 and a beta of 1.25.

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

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.