Cantor Fitzgerald Reaffirms “Overweight” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

Cantor Fitzgerald reissued their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note issued to investors on Monday, Benzinga reports.

A number of other analysts have also commented on ORIC. HC Wainwright reaffirmed a buy rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Oppenheimer decreased their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a research note on Tuesday, August 13th. Wedbush reaffirmed an outperform rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a buy rating and a $20.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average price target of $18.00.

ORIC Pharmaceuticals Stock Performance

ORIC Pharmaceuticals stock opened at $10.73 on Monday. The firm has a market capitalization of $723.44 million, a price-to-earnings ratio of -5.96 and a beta of 1.12. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The stock’s fifty day moving average is $10.06 and its two-hundred day moving average is $9.91.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). As a group, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ORIC. NEA Management Company LLC purchased a new position in ORIC Pharmaceuticals during the first quarter worth about $20,625,000. Price T Rowe Associates Inc. MD raised its holdings in shares of ORIC Pharmaceuticals by 140.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after purchasing an additional 915,175 shares during the period. Vanguard Group Inc. raised its holdings in shares of ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares during the period. Millennium Management LLC raised its holdings in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after purchasing an additional 585,447 shares during the period. Finally, First Turn Management LLC raised its holdings in shares of ORIC Pharmaceuticals by 38.1% in the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock worth $10,718,000 after purchasing an additional 418,389 shares during the period. 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.