ORIC Pharmaceuticals (NASDAQ:ORIC) PT Lowered to $14.00

ORIC Pharmaceuticals (NASDAQ:ORIC) had its target price cut by research analysts at Citigroup from $15.00 to $14.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 45.83% from the company’s current price.

Several other equities research analysts have also commented on ORIC. Wedbush boosted their target price on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. HC Wainwright upped their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price target on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Finally, Cantor Fitzgerald initiated coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

ORIC Pharmaceuticals Stock Down 0.1 %

Shares of ORIC Pharmaceuticals stock opened at $9.60 on Tuesday. The firm has a market cap of $647.23 million, a price-to-earnings ratio of -4.90 and a beta of 1.19. ORIC Pharmaceuticals has a 52-week low of $4.90 and a 52-week high of $16.65. The company’s 50-day simple moving average is $11.84 and its 200-day simple moving average is $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). Equities research analysts anticipate that ORIC Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Jump Financial LLC boosted its stake in shares of ORIC Pharmaceuticals by 104.8% during the third quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock valued at $195,000 after acquiring an additional 16,449 shares during the last quarter. Monaco Asset Management SAM lifted its holdings in ORIC Pharmaceuticals by 1.7% in the 3rd quarter. Monaco Asset Management SAM now owns 384,793 shares of the company’s stock valued at $2,328,000 after purchasing an additional 6,571 shares in the last quarter. Vivo Capital LLC acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter worth about $4,707,000. Algert Global LLC purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter worth about $81,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of ORIC Pharmaceuticals in the third quarter valued at approximately $72,000. Institutional investors and hedge funds 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.