HC Wainwright Reaffirms Buy Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $21.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 116.94% from the stock’s previous close.

A number of other research analysts have also issued reports on ORIC. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Oppenheimer cut their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $9.68 on Monday. ORIC Pharmaceuticals has a one year low of $5.85 and a one year high of $16.65. The company’s fifty day moving average price is $9.71 and its two-hundred day moving average price is $9.26. The company has a market capitalization of $682.83 million, a price-to-earnings ratio of -5.53 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data 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). As a group, sell-side analysts anticipate that ORIC Pharmaceuticals will post -1.8 earnings per share for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ORIC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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 acquiring an additional 3,188 shares in the last quarter. Quest Partners LLC boosted its holdings in ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares in the last quarter. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at approximately $116,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of ORIC Pharmaceuticals by 71.3% in the 3rd 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 in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ORIC Pharmaceuticals during the 2nd quarter worth approximately $153,000. Institutional investors and hedge funds 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.