ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $19.17 Average Price Target from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.17.

ORIC has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, May 5th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, May 6th. Oppenheimer decreased their target price on ORIC Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th.

ORIC Pharmaceuticals Trading Up 8.7%

NASDAQ ORIC opened at $5.14 on Friday. The business’s 50 day moving average is $5.56 and its two-hundred day moving average is $7.90. ORIC Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.67. The stock has a market capitalization of $365.39 million, a price-to-earnings ratio of -2.82 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. Equities analysts forecast that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. Boxer Capital Management LLC acquired a new position in shares of ORIC Pharmaceuticals in the fourth quarter valued at $13,982,000. MPM Bioimpact LLC bought a new stake in shares of ORIC Pharmaceuticals during the first quarter worth $7,809,000. Vivo Capital LLC grew its holdings in shares of ORIC Pharmaceuticals by 62.8% during the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company’s stock worth $11,609,000 after purchasing an additional 802,632 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth $5,845,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ORIC Pharmaceuticals by 1,331.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock valued at $2,841,000 after acquiring an additional 473,600 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.