Q2 2024 EPS Estimates for ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Lifted by Wedbush

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Wedbush increased their Q2 2024 earnings per share (EPS) estimates for ORIC Pharmaceuticals in a research report issued on Monday, May 6th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.41) per share for the quarter, up from their previous forecast of ($0.43). Wedbush has a “Outperform” rating and a $20.00 price objective on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.75) per share. Wedbush also issued estimates for ORIC Pharmaceuticals’ FY2024 earnings at ($1.68) EPS, FY2025 earnings at ($2.02) EPS, FY2026 earnings at ($2.10) EPS and FY2027 earnings at ($2.17) EPS.

ORIC has been the topic of several other research reports. HC Wainwright increased their target price on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Cantor Fitzgerald began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating for the company. JPMorgan Chase & Co. dropped their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Finally, Citigroup reduced their target price on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $20.00.

ORIC Pharmaceuticals Stock Performance

ORIC stock opened at $9.60 on Thursday. ORIC Pharmaceuticals has a one year low of $4.90 and a one year high of $16.65. The company has a market capitalization of $647.23 million, a PE ratio of -4.90 and a beta of 1.19. The company’s 50 day moving average price is $11.84 and its two-hundred day moving average price is $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49).

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in shares of ORIC Pharmaceuticals during the 1st quarter worth approximately $161,000. China Universal Asset Management Co. Ltd. lifted its position in ORIC Pharmaceuticals by 104.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after buying an additional 6,617 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of ORIC Pharmaceuticals by 19.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after buying an additional 1,517 shares in the last quarter. Vivo Capital LLC boosted its holdings in shares of ORIC Pharmaceuticals by 9.2% during the 4th quarter. Vivo Capital LLC now owns 849,681 shares of the company’s stock valued at $7,817,000 after buying an additional 71,737 shares in the last quarter. Finally, AJOVista LLC purchased a new position in ORIC Pharmaceuticals during the 4th quarter valued at about $40,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.