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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned an average rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.60.

ORIC has been the topic of a number of research analyst reports. Oppenheimer dropped their price objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, August 14th. Citigroup reduced their price objective on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, August 12th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the period. AJOVista LLC acquired a new stake in ORIC Pharmaceuticals during the fourth quarter valued at $40,000. Strs Ohio purchased a new position in ORIC Pharmaceuticals in the fourth quarter valued at $72,000. Quest Partners LLC raised its position in shares of ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of ORIC Pharmaceuticals during the 2nd quarter worth about $153,000. 95.05% of the stock is owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC stock opened at $10.10 on Thursday. The firm has a market capitalization of $712.45 million, a price-to-earnings ratio of -5.61 and a beta of 1.13. The stock’s 50-day simple moving average is $8.99 and its 200-day simple moving average is $10.31. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65.

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.