ORIC Pharmaceuticals (NASDAQ:ORIC) Price Target Cut to $15.00

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price objective lowered by equities researchers at Oppenheimer from $17.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 51.98% from the stock’s current price.

Several other research firms have also recently commented on ORIC. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, July 17th. Citigroup decreased their price objective on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.17.

ORIC Pharmaceuticals Trading Up 11.7 %

NASDAQ ORIC opened at $9.87 on Tuesday. ORIC Pharmaceuticals has a 52 week low of $5.27 and a 52 week high of $16.65. The stock has a market cap of $665.44 million, a price-to-earnings ratio of -5.48 and a beta of 1.13. The company has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $10.35.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in ORIC Pharmaceuticals by 140.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after buying an additional 915,175 shares during the last quarter. Strs Ohio acquired a new position in ORIC Pharmaceuticals in the fourth quarter worth approximately $72,000. AJOVista LLC acquired a new position in ORIC Pharmaceuticals in the fourth quarter worth approximately $40,000. Vanguard Group Inc. grew its position in ORIC Pharmaceuticals by 27.9% in the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after buying an additional 629,536 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals in the first quarter worth approximately $161,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.