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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.86.

Several research firms have commented on ORIC. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of ORIC Pharmaceuticals by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,203,789 shares of the company’s stock valued at $25,855,000 after purchasing an additional 36,478 shares during the period. Boxer Capital Management LLC bought a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $13,982,000. NEA Management Company LLC grew its holdings in shares of ORIC Pharmaceuticals by 4.4% during the 4th quarter. NEA Management Company LLC now owns 1,566,081 shares of the company’s stock worth $12,638,000 after purchasing an additional 66,081 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in ORIC Pharmaceuticals by 37.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company’s stock valued at $12,551,000 after buying an additional 424,194 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of ORIC Pharmaceuticals by 3.0% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,395,352 shares of the company’s stock valued at $11,260,000 after acquiring an additional 40,844 shares in the last quarter. 95.05% of the stock is owned by institutional investors.

ORIC Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ ORIC opened at $5.19 on Tuesday. ORIC Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.67. The company has a market cap of $368.63 million, a price-to-earnings ratio of -2.85 and a beta of 1.38. The stock’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $8.37.

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

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.