ORIC Pharmaceuticals’ (ORIC) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Tuesday,RTT News reports. The firm currently has a $20.00 price target on the stock.

A number of other research analysts also recently weighed in on ORIC. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective on the stock. Oppenheimer lowered their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Finally, Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective for the company. Eight 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 price target of $18.29.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $10.26 on Tuesday. The stock’s 50-day moving average is $9.71 and its 200 day moving average is $9.32. The company has a market cap of $723.76 million, a PE ratio of -5.86 and a beta of 1.13. ORIC Pharmaceuticals has a 1 year low of $5.85 and a 1 year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data 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). Analysts expect that ORIC Pharmaceuticals will post -1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after buying an additional 629,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 purchasing an additional 915,175 shares during the period. First Turn Management LLC increased its position in shares of ORIC Pharmaceuticals by 38.1% during the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after purchasing an additional 418,389 shares during the last quarter. NEA Management Company LLC bought a new position in ORIC Pharmaceuticals in the first quarter worth approximately $20,625,000. Finally, Millennium Management LLC raised its holdings in ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after purchasing an additional 585,447 shares during the period. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.