ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Consensus Recommendation of “Buy” by Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received a consensus recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.86.

A number of research firms have weighed in on ORIC. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $5.53 on Friday. The stock has a market cap of $392.78 million, a PE ratio of -3.04 and a beta of 1.25. The stock’s fifty day moving average is $8.57 and its two-hundred day moving average is $9.06. ORIC Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued 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. On average, research analysts expect that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boxer Capital Management LLC purchased a new stake in ORIC Pharmaceuticals during the 4th quarter valued at approximately $13,982,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth approximately $5,845,000. Balyasny Asset Management L.P. lifted its holdings in shares of ORIC Pharmaceuticals by 37.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company’s stock worth $12,551,000 after purchasing an additional 424,194 shares during the period. Charles Schwab Investment Management Inc. grew its position in ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares during the last quarter. Finally, Diadema Partners LP acquired a new position in ORIC Pharmaceuticals in the 4th quarter valued at $1,729,000. 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.