Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.00

by · The Markets Daily

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report) have earned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.00.

Several equities analysts have commented on ORIC shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Oppenheimer lowered their price target 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. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th.

Read Our Latest Research Report on ORIC Pharmaceuticals

ORIC Pharmaceuticals Trading Down 0.1 %

Shares of ORIC stock opened at $9.49 on Friday. The stock’s 50-day moving average price is $9.87 and its 200-day moving average price is $9.55. ORIC Pharmaceuticals has a 12-month low of $5.27 and a 12-month high of $16.65. The stock has a market capitalization of $669.42 million, a price-to-earnings ratio of -5.27 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, research analysts predict that ORIC Pharmaceuticals will post -1.8 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. China Universal Asset Management Co. Ltd. grew its stake in shares of ORIC Pharmaceuticals by 104.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after buying an additional 6,617 shares during the last quarter. ProShare Advisors LLC purchased a new stake in ORIC Pharmaceuticals in the first quarter worth $161,000. Vanguard Group Inc. lifted its position in shares of ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after purchasing an additional 915,175 shares during the period. Finally, NEA Management Company LLC bought a new position in shares of ORIC Pharmaceuticals in the first quarter worth about $20,625,000. Institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

(Get Free Report

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.

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