ORIC Pharmaceuticals (NASDAQ:ORIC) Announces Earnings Results

ORIC Pharmaceuticals (NASDAQ:ORIC) issued its earnings results on Tuesday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01), Zacks reports.

ORIC Pharmaceuticals Trading Up 3.8 %

Shares of ORIC Pharmaceuticals stock traded up $0.39 during trading on Wednesday, hitting $10.65. 129,608 shares of the company’s stock were exchanged, compared to its average volume of 515,386. The business has a 50-day simple moving average of $9.71 and a 200-day simple moving average of $9.32. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ORIC shares. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Oppenheimer decreased their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $18.29.

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.