HC Wainwright Reiterates “Buy” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

HC Wainwright reissued their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Wednesday, Benzinga reports. HC Wainwright currently has a $21.00 price target on the stock.

Several other equities research analysts have also recently issued reports on ORIC. Cantor Fitzgerald reiterated an overweight rating on shares of ORIC Pharmaceuticals in a report on Monday, September 9th. Oppenheimer lowered their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a research note on Tuesday, August 13th. Wedbush reissued an outperform rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a buy rating and a $20.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $18.00.

ORIC Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:ORIC opened at $11.25 on Wednesday. The business’s 50 day moving average price is $10.06 and its 200-day moving average price is $10.03. 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 the consensus estimate of ($0.42) by ($0.03). Research analysts predict that ORIC Pharmaceuticals will post -1.78 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ORIC. China Universal Asset Management Co. Ltd. increased its stake in shares of ORIC Pharmaceuticals by 104.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock worth $178,000 after acquiring an additional 6,617 shares during the last quarter. ProShare Advisors LLC acquired a new stake in ORIC Pharmaceuticals during the first quarter worth about $161,000. Vanguard Group Inc. raised its stake in 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 boosted its holdings in ORIC Pharmaceuticals by 140.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after purchasing an additional 915,175 shares during the last quarter. Finally, NEA Management Company LLC purchased a new stake in shares of ORIC Pharmaceuticals in the 1st quarter valued at approximately $20,625,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.