ORIC Pharmaceuticals (NASDAQ:ORIC) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report published on Thursday,RTT News reports. The firm currently has a $20.00 price target on the stock.

Other equities analysts have also issued reports about the company. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.86.

ORIC Pharmaceuticals Stock Performance

ORIC opened at $7.51 on Thursday. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $15.35. The business has a 50 day moving average price of $9.09 and a 200 day moving average price of $9.26. The firm has a market cap of $533.41 million, a P/E ratio of -4.13 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of ORIC Pharmaceuticals by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after acquiring an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Invesco Ltd. grew its stake in shares of ORIC Pharmaceuticals by 8.5% in the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock valued at $193,000 after purchasing an additional 1,876 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after buying an additional 2,520 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of ORIC Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company’s stock worth $504,000 after buying an additional 3,200 shares during the period. Institutional investors own 95.05% of the company’s stock.

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.