ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Rating Reaffirmed by Oppenheimer

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reiterated by equities researchers at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $17.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 77.08% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ORIC. JPMorgan Chase & Co. cut their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright upped their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup cut their price objective on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $19.50.

ORIC Pharmaceuticals Stock Up 2.9 %

ORIC Pharmaceuticals stock opened at $9.60 on Wednesday. ORIC Pharmaceuticals has a 52 week low of $5.27 and a 52 week high of $16.65. The business has a 50-day simple moving average of $8.40 and a 200 day simple moving average of $10.19. The stock has a market cap of $647.25 million, a price-to-earnings ratio of -5.33 and a beta of 1.14.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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. On average, research analysts anticipate that ORIC Pharmaceuticals will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its holdings in ORIC Pharmaceuticals by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after acquiring an additional 1,180 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ORIC Pharmaceuticals by 6.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock valued at $203,000 after acquiring an additional 1,362 shares during the period. Tower Research Capital LLC TRC boosted its holdings in ORIC Pharmaceuticals by 19.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after acquiring an additional 1,517 shares during the period. AJOVista LLC bought a new position in ORIC Pharmaceuticals during the 4th quarter valued at approximately $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in ORIC Pharmaceuticals during the 4th quarter valued at approximately $58,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.