Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Target Price at $19.50

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given an average recommendation of “Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.50.

ORIC has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, July 17th. Oppenheimer reiterated an “outperform” rating and set a $17.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, July 10th. Citigroup reduced their price objective on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Thursday, June 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Wednesday, July 17th.

ORIC Pharmaceuticals Trading Up 5.9 %

NASDAQ:ORIC opened at $11.90 on Friday. The stock has a market capitalization of $802.30 million, a price-to-earnings ratio of -6.61 and a beta of 1.14. The firm has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $10.33. ORIC Pharmaceuticals has a 12 month low of $5.27 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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 predict that ORIC Pharmaceuticals will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of ORIC Pharmaceuticals by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock valued at $1,159,000 after purchasing an additional 1,180 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in ORIC Pharmaceuticals by 6.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock worth $203,000 after acquiring an additional 1,362 shares during the period. Tower Research Capital LLC TRC raised its position in ORIC Pharmaceuticals by 19.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock worth $85,000 after acquiring an additional 1,517 shares during the period. AJOVista LLC bought a new stake in ORIC Pharmaceuticals in the fourth quarter worth about $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in ORIC Pharmaceuticals in the fourth quarter worth about $58,000. 95.05% of the stock is owned by 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.