ORIC FY2024 EPS Forecast Reduced by Cantor Fitzgerald

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Research analysts at Cantor Fitzgerald decreased their FY2024 EPS estimates for shares of ORIC Pharmaceuticals in a research report issued on Wednesday, November 13th. Cantor Fitzgerald analyst P. Agrawal now expects that the company will post earnings per share of ($1.85) for the year, down from their previous estimate of ($1.82). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.85) per share.

ORIC has been the subject of several other research reports. Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Finally, Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Trading Up 0.7 %

Shares of ORIC Pharmaceuticals stock opened at $8.56 on Monday. The stock has a fifty day simple moving average of $9.69 and a 200 day simple moving average of $9.33. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The company has a market capitalization of $604.08 million, a P/E ratio of -4.73 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01).

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ORIC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ORIC Pharmaceuticals by 162.3% in 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. Quest Partners LLC increased its position in 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 buying an additional 7,440 shares during the last quarter. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $132,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after buying an additional 5,646 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

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.