ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Outperform Rating from Wedbush

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Thursday,RTT News reports. They currently have a $20.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 184.50% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Finally, Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average price target of $18.86.

ORIC Pharmaceuticals Stock Performance

ORIC opened at $7.03 on Thursday. The firm’s 50-day simple moving average is $9.08 and its 200-day simple moving average is $9.23. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $14.67. The firm has a market cap of $499.32 million, a price-to-earnings ratio of -3.86 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, sell-side analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $50,000. BNP Paribas Financial Markets bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $71,000. PNC Financial Services Group Inc. boosted its stake in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of ORIC Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company’s stock valued at $118,000 after purchasing an additional 13,384 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $118,000. Institutional investors 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.