Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) PT at $20.00

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have commented on ORIC shares. Wedbush increased their price target on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Cantor Fitzgerald began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. cut their target price 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. Citigroup lowered their price target on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, HC Wainwright boosted their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.

ORIC Pharmaceuticals Trading Down 1.0 %

Shares of NASDAQ:ORIC opened at $9.50 on Tuesday. The stock has a market capitalization of $640.49 million, a PE ratio of -4.85 and a beta of 1.19. ORIC Pharmaceuticals has a 1 year low of $4.91 and a 1 year high of $16.65. The firm has a fifty day moving average price of $11.78 and a 200 day moving average price of $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly 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). On average, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of ORIC Pharmaceuticals by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ORIC Pharmaceuticals by 6.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock worth $203,000 after acquiring an additional 1,362 shares during the period. Tower Research Capital LLC TRC boosted its position 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 acquiring an additional 1,517 shares in the last quarter. AJOVista LLC bought a new stake in ORIC Pharmaceuticals in the fourth quarter valued at about $40,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in ORIC Pharmaceuticals in the fourth quarter worth about $58,000. Institutional investors own 95.05% of the company’s stock.

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.