ORIC Pharmaceuticals’ (ORIC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Monday morning, Benzinga reports.

Other analysts also recently issued reports about the stock. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a buy rating and a $20.00 target price on the stock. Wedbush restated an outperform rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, August 12th. HC Wainwright restated a buy rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Wednesday, August 14th. Finally, Oppenheimer cut their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals has an average rating of Buy and a consensus price target of $18.00.

ORIC Pharmaceuticals Price Performance

NASDAQ ORIC opened at $9.90 on Monday. The company’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $10.14. ORIC Pharmaceuticals has a 12 month low of $5.27 and a 12 month high of $16.65. The company has a market capitalization of $667.48 million, a P/E ratio of -5.50 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). On average, analysts anticipate that ORIC Pharmaceuticals will post -1.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORIC. Victory Capital Management Inc. increased its stake in ORIC Pharmaceuticals by 0.9% in the 4th quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after buying an additional 1,180 shares during the period. M&T Bank Corp increased its stake in ORIC Pharmaceuticals by 18.3% in the 4th quarter. M&T Bank Corp now owns 83,926 shares of the company’s stock valued at $772,000 after buying an additional 12,962 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in ORIC Pharmaceuticals by 104.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after buying an additional 6,617 shares during the period. ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals in the 1st quarter valued at approximately $161,000. Finally, Vanguard Group Inc. increased its stake in ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after buying an additional 629,536 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.