Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Target Price at $18.86

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned a consensus rating of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.86.

Several equities research analysts recently weighed in on ORIC shares. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC stock opened at $6.14 on Friday. ORIC Pharmaceuticals has a 52 week low of $5.78 and a 52 week high of $14.67. The firm’s 50-day simple moving average is $8.74 and its two-hundred day simple moving average is $9.11. The firm has a market cap of $436.11 million, a price-to-earnings ratio of -3.37 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Analysts forecast that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after acquiring an additional 3,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ORIC Pharmaceuticals in the third quarter valued at approximately $132,000. Intech Investment Management LLC bought a new stake in ORIC Pharmaceuticals during the third quarter valued at approximately $200,000. Charles Schwab Investment Management Inc. grew its stake in ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock worth $4,205,000 after buying an additional 247,863 shares in the last quarter. Finally, Alkeon Capital Management LLC increased its holdings in shares of ORIC Pharmaceuticals by 2.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock worth $40,017,000 after buying an additional 100,000 shares during the last quarter. 95.05% of the stock is currently 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.