ORIC Pharmaceuticals (NASDAQ:ORIC) Earns “Outperform” Rating from Wedbush

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $20.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 94.74% from the stock’s current price.

Several other brokerages also recently commented on ORIC. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Oppenheimer decreased their price objective 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. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Price Performance

ORIC opened at $10.27 on Tuesday. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The stock has a 50-day moving average price of $9.72 and a 200-day moving average price of $9.33. The firm has a market cap of $724.45 million, a PE ratio of -5.71 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, sell-side analysts anticipate that ORIC Pharmaceuticals will post -1.8 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently made changes to their positions in ORIC. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after buying an additional 3,188 shares during the period. Quest Partners LLC grew its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares during the period. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $116,000. ProShare Advisors LLC purchased a new stake in shares of ORIC Pharmaceuticals in the 1st quarter worth $161,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in ORIC Pharmaceuticals in the 3rd quarter worth $132,000. 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.