ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock. HC Wainwright also issued estimates for ORIC Pharmaceuticals’ Q3 2024 earnings at ($0.49) EPS, Q4 2024 earnings at ($0.51) EPS, FY2024 earnings at ($1.83) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.54) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.58) EPS and FY2025 earnings at ($2.22) EPS.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an overweight rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Wedbush reissued an outperform rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, August 12th. Oppenheimer reduced their target price 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, Citigroup dropped their price target on ORIC Pharmaceuticals from $15.00 to $14.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and an average target price of $17.60.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $9.30 on Wednesday. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The company has a market cap of $627.02 million, a PE ratio of -5.17 and a beta of 1.13. The business has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $10.33.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several large investors have recently made changes to their positions in ORIC. AJOVista LLC purchased a new position in ORIC Pharmaceuticals in the fourth quarter valued at $40,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $36,000 after purchasing an additional 3,188 shares in the last quarter. Strs Ohio acquired a new position in ORIC Pharmaceuticals in the 4th quarter worth about $72,000. Quest Partners LLC raised its holdings in ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the period. Finally, ProShare Advisors LLC purchased a new position in ORIC Pharmaceuticals during the first quarter worth approximately $161,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.