ORIC Pharmaceuticals (NASDAQ:ORIC) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $20.00 price target on the stock.

ORIC has been the topic of a number of other reports. Cantor Fitzgerald restated an overweight rating on shares of ORIC Pharmaceuticals in a report on Monday. Stifel Nicolaus assumed coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a buy rating and a $20.00 target price on the stock. Oppenheimer decreased their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating for the company in a research note on Tuesday, August 13th. Finally, HC Wainwright reissued a buy rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $18.00.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $9.06 on Tuesday. The firm has a market capitalization of $610.84 million, a PE ratio of -5.03 and a beta of 1.12. The business has a 50 day simple moving average of $9.86 and a two-hundred day simple moving average of $10.14. ORIC Pharmaceuticals has a 1 year low of $5.27 and a 1 year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). Equities research analysts expect that ORIC Pharmaceuticals will post -1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in ORIC Pharmaceuticals by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock valued at $929,000 after acquiring an additional 9,424 shares in the last quarter. Millennium Management LLC lifted its position in shares of ORIC Pharmaceuticals by 297.4% during the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after buying an additional 585,447 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of ORIC Pharmaceuticals by 95.6% in the 2nd quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock valued at $240,000 after buying an additional 16,613 shares in the last quarter. Profund Advisors LLC grew its position in shares of ORIC Pharmaceuticals by 23.6% in the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after buying an additional 4,175 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ORIC Pharmaceuticals during the 2nd quarter worth approximately $153,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.