Wedbush Reaffirms Outperform Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

Wedbush reissued their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Tuesday morning,RTT News reports. The brokerage currently has a $20.00 price objective on the stock. Wedbush also issued estimates for ORIC Pharmaceuticals’ Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($1.82) EPS, FY2025 earnings at ($2.18) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($2.24) EPS.

ORIC has been the topic of a number of other reports. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. Oppenheimer lowered their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $8.50 on Tuesday. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The business’s 50-day moving average is $9.69 and its 200-day moving average is $9.33. The company has a market capitalization of $599.82 million, a price-to-earnings ratio of -4.72 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Analysts anticipate that ORIC Pharmaceuticals will post -1.8 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. Geode Capital Management LLC increased its position in shares of ORIC Pharmaceuticals by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company’s stock valued at $13,056,000 after acquiring an additional 50,821 shares during the last quarter. M&T Bank Corp increased its position in shares of ORIC Pharmaceuticals by 19.2% during the 3rd quarter. M&T Bank Corp now owns 85,137 shares of the company’s stock valued at $873,000 after purchasing an additional 13,711 shares during the last quarter. Barclays PLC increased its position in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after purchasing an additional 56,474 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of ORIC Pharmaceuticals by 42.0% during the 3rd quarter. Wellington Management Group LLP now owns 174,388 shares of the company’s stock worth $1,787,000 after purchasing an additional 51,565 shares during the period. Finally, Sphera Funds Management LTD. purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $1,316,000. Hedge funds and other 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.