ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of “Buy” from Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Eight 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 research firms have recently commented on ORIC. Wells Fargo & Company initiated coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Stifel Nicolaus initiated 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. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Finally, Oppenheimer reduced their price objective 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.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after buying an additional 3,188 shares during the period. Quest Partners LLC raised 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 acquiring an additional 7,440 shares in the last quarter. Creative Planning acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. ProShare Advisors LLC purchased a new stake in shares of ORIC Pharmaceuticals during the first quarter valued at $161,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of ORIC Pharmaceuticals by 71.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ ORIC opened at $9.48 on Tuesday. The firm’s fifty day moving average is $9.72 and its two-hundred day moving average is $9.25. ORIC Pharmaceuticals has a 52-week low of $5.85 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). On average, research analysts forecast that ORIC Pharmaceuticals will post -1.8 earnings per share for the current year.

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.