ORIC Pharmaceuticals’ (ORIC) “Outperform” Rating Reiterated at Oppenheimer

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a report released on Wednesday, Benzinga reports. They presently have a $17.00 target price on the stock. Oppenheimer’s price target suggests a potential upside of 82.60% from the company’s current price.

Other analysts also recently issued research reports about the company. Citigroup reduced their price objective on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. HC Wainwright raised their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. cut their target price on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $19.50.

ORIC Pharmaceuticals Trading Down 0.3 %

ORIC traded down $0.03 during midday trading on Wednesday, reaching $9.31. The company’s stock had a trading volume of 409,175 shares, compared to its average volume of 541,437. The company has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $10.20. ORIC Pharmaceuticals has a twelve month low of $5.27 and a twelve month high of $16.65. The stock has a market cap of $627.68 million, a P/E ratio of -5.18 and a beta of 1.14.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.07. Sell-side analysts expect that ORIC Pharmaceuticals will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after acquiring an additional 915,175 shares in the last quarter. NEA Management Company LLC bought a new position in ORIC Pharmaceuticals during the first quarter worth about $20,625,000. Vivo Capital LLC lifted its holdings in ORIC Pharmaceuticals by 9.2% during the fourth quarter. Vivo Capital LLC now owns 849,681 shares of the company’s stock worth $7,817,000 after acquiring an additional 71,737 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in ORIC Pharmaceuticals by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock worth $1,159,000 after acquiring an additional 1,180 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.