ORIC Pharmaceuticals (NASDAQ:ORIC) Research Coverage Started at Stifel Nicolaus

Stock analysts at Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note issued to investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 110.97% from the stock’s previous close.

ORIC has been the topic of several other research reports. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday, August 14th. Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Thursday, June 20th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.00.

ORIC Pharmaceuticals Price Performance

ORIC opened at $9.48 on Friday. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The firm’s fifty day moving average price is $9.62 and its two-hundred day moving average price is $10.17. The company has a market capitalization of $639.16 million, a P/E ratio of -5.27 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results 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). On average, equities research analysts expect that ORIC Pharmaceuticals will post -1.78 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ORIC Pharmaceuticals by 162.3% in 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 during the last quarter. Quest Partners LLC grew its position in shares of ORIC Pharmaceuticals by 253.2% in the 2nd 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 during the period. XTX Topco Ltd acquired a new position in shares of ORIC Pharmaceuticals in the 2nd quarter valued at approximately $153,000. Cornercap Investment Counsel Inc. acquired a new position in ORIC Pharmaceuticals during the 2nd quarter worth approximately $154,000. Finally, Profund Advisors LLC boosted its position in ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after acquiring an additional 4,175 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

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.