ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Down 3.5%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price traded down 3.5% during mid-day trading on Monday . The stock traded as low as $9.30 and last traded at $9.37. 37,687 shares were traded during trading, a decline of 93% from the average session volume of 541,126 shares. The stock had previously closed at $9.71.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. HC Wainwright increased their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Wedbush raised their price target on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Cantor Fitzgerald assumed coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating on the stock. Citigroup reduced their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

ORIC Pharmaceuticals Price Performance

The stock has a market capitalization of $647.23 million, a price-to-earnings ratio of -4.90 and a beta of 1.19. The business’s 50-day simple moving average is $11.88 and its two-hundred day simple moving average is $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). As a group, sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new stake in shares of ORIC Pharmaceuticals during the 4th quarter valued at about $40,000. China Universal Asset Management Co. Ltd. bought a new position in ORIC Pharmaceuticals during the 4th quarter worth $58,000. Strs Ohio acquired a new stake in ORIC Pharmaceuticals in the fourth quarter worth $72,000. Sherbrooke Park Advisers LLC acquired a new stake in ORIC Pharmaceuticals in the third quarter worth $72,000. Finally, Algert Global LLC bought a new stake in ORIC Pharmaceuticals in the third quarter valued at $81,000. 95.05% of the stock is currently 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.