FY2024 Earnings Estimate for ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Issued By Cantor Fitzgerald

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Stock analysts at Cantor Fitzgerald dropped their FY2024 earnings per share (EPS) estimates for ORIC Pharmaceuticals in a research note issued on Monday, September 23rd. Cantor Fitzgerald analyst P. Agrawal now anticipates that the company will post earnings per share of ($1.82) for the year, down from their prior forecast of ($1.69). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.78) per share.

A number of other equities analysts have also issued reports on ORIC. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Oppenheimer lowered their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.00.

ORIC Pharmaceuticals Stock Up 3.6 %

NASDAQ ORIC opened at $10.36 on Wednesday. ORIC Pharmaceuticals has a 52-week low of $5.27 and a 52-week high of $16.65. The business’s 50-day moving average price is $10.06 and its 200 day moving average price is $9.89. 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 (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).

Institutional Investors Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after acquiring an additional 915,175 shares during the period. Bank of New York Mellon Corp raised its position in shares of ORIC Pharmaceuticals by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after purchasing an additional 71,394 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of ORIC Pharmaceuticals during the 2nd quarter worth approximately $724,000. Monaco Asset Management SAM raised its position 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 purchasing an additional 171,650 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of ORIC Pharmaceuticals during the 1st quarter worth approximately $161,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.