ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Consensus Rating of “Buy” by Brokerages

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have received an average rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.00.

A number of research analysts recently weighed in on ORIC shares. JPMorgan Chase & Co. reduced their target price on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. HC Wainwright boosted their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Finally, Citigroup reduced their price target on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at approximately $81,000. Sherbrooke Park Advisers LLC acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at $72,000. Alkeon Capital Management LLC grew its position in ORIC Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock valued at $21,050,000 after acquiring an additional 500,000 shares during the period. Euclidean Capital LLC raised its stake in ORIC Pharmaceuticals by 32.4% during the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after acquiring an additional 241,860 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at $58,000. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Up 2.3 %

NASDAQ ORIC opened at $7.07 on Wednesday. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The business has a fifty day moving average of $8.45 and a 200-day moving average of $10.24. The stock has a market cap of $476.66 million, a price-to-earnings ratio of -3.93 and a beta of 1.18.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, May 6th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.07. As a group, analysts anticipate that ORIC Pharmaceuticals will post -1.68 EPS for the current year.

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.