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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $19.50.

A number of equities research analysts recently commented on ORIC shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, July 17th. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, July 10th. Citigroup decreased their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday, July 17th.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently bought and sold shares of ORIC. Hennion & Walsh Asset Management Inc. acquired a new position in shares of ORIC Pharmaceuticals during the 2nd quarter worth approximately $724,000. Virtu Financial LLC acquired a new position in ORIC Pharmaceuticals in the 1st quarter valued at about $225,000. NEA Management Company LLC purchased a new stake in shares of ORIC Pharmaceuticals in the 1st quarter valued at approximately $20,625,000. Price T Rowe Associates Inc. MD increased its holdings in shares of ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after buying an additional 915,175 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of ORIC Pharmaceuticals by 27.9% during the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after buying an additional 629,536 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 4.3 %

NASDAQ:ORIC opened at $11.24 on Friday. The company has a market capitalization of $757.82 million, a P/E ratio of -6.28 and a beta of 1.14. ORIC Pharmaceuticals has a 12 month low of $5.27 and a 12 month high of $16.65. The firm has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $10.29.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. Equities analysts forecast that ORIC Pharmaceuticals will post -1.68 EPS 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.