Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.29

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.29.

Several equities analysts have recently issued reports on ORIC shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. Oppenheimer dropped their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th.

ORIC Pharmaceuticals Trading Up 2.9 %

Shares of NASDAQ:ORIC opened at $9.87 on Friday. The company has a market cap of $696.53 million, a price-to-earnings ratio of -5.33 and a beta of 1.13. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The company has a 50-day moving average price of $9.61 and a 200-day moving average price of $9.31.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, research analysts forecast that ORIC Pharmaceuticals will post -1.85 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

A number of large investors have recently made changes to their positions in ORIC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after buying an additional 3,188 shares in the last quarter. Quest Partners LLC increased its holdings in ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares in the last quarter. Creative Planning purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $116,000. ProShare Advisors LLC acquired a new stake in shares of ORIC Pharmaceuticals in the first quarter valued at approximately $161,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals during the 3rd quarter worth approximately $132,000. 95.05% of the stock is owned by institutional investors and hedge funds.

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.