ORIC Pharmaceuticals (NASDAQ:ORIC) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report issued on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $20.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 112.54% from the stock’s current price.

Several other brokerages also recently issued reports on ORIC. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Oppenheimer cut their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Finally, Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals currently has an average rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Stock Up 0.3 %

Shares of ORIC Pharmaceuticals stock opened at $9.41 on Thursday. The stock has a market cap of $663.78 million, a P/E ratio of -5.38 and a beta of 1.12. ORIC Pharmaceuticals has a 12-month low of $5.85 and a 12-month high of $16.65. The business’s 50 day moving average is $9.74 and its 200-day moving average is $9.26.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, sell-side analysts expect that ORIC Pharmaceuticals will post -1.8 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ORIC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after acquiring an additional 3,188 shares during the last quarter. Quest Partners LLC increased its stake in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the last quarter. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals during the 3rd quarter worth $116,000. China Universal Asset Management Co. Ltd. lifted its position in shares of ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ORIC Pharmaceuticals in the second quarter worth about $153,000. 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.