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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given an average recommendation of “Buy” by the nine analysts that are covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.86.

Several equities analysts have recently commented on ORIC shares. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. Victory Capital Management Inc. raised its stake in shares of ORIC Pharmaceuticals by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after buying an additional 3,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ORIC Pharmaceuticals in the third quarter worth about $132,000. Intech Investment Management LLC acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at about $200,000. Charles Schwab Investment Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after purchasing an additional 247,863 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its stake in shares of ORIC Pharmaceuticals by 2.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock worth $40,017,000 after purchasing an additional 100,000 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

ORIC Pharmaceuticals Stock Up 7.5 %

Shares of ORIC stock opened at $6.29 on Friday. The company has a market cap of $446.76 million, a P/E ratio of -3.46 and a beta of 1.25. The business has a 50 day moving average of $8.81 and a two-hundred day moving average of $9.15. ORIC Pharmaceuticals has a 52 week low of $5.78 and a 52 week high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. Analysts expect that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

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.