Citigroup Lowers ORIC Pharmaceuticals (NASDAQ:ORIC) Price Target to $14.00

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price target cut by equities researchers at Citigroup from $15.00 to $14.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 45.83% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. HC Wainwright raised 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. Cantor Fitzgerald assumed coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating on the stock. Finally, Wedbush raised their price target on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

ORIC Pharmaceuticals Trading Down 0.1 %

Shares of ORIC Pharmaceuticals stock opened at $9.60 on Tuesday. The business has a fifty day simple moving average of $11.84 and a two-hundred day simple moving average of $9.96. The firm has a market capitalization of $647.23 million, a P/E ratio of -4.90 and a beta of 1.19. ORIC Pharmaceuticals has a 12 month low of $4.90 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). Analysts predict that ORIC Pharmaceuticals will post -1.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AJOVista LLC bought a new position in shares of ORIC Pharmaceuticals during the 4th quarter valued at $40,000. China Universal Asset Management Co. Ltd. purchased a new stake in ORIC Pharmaceuticals during the fourth quarter valued at $58,000. Strs Ohio bought a new position in ORIC Pharmaceuticals in the fourth quarter valued at about $72,000. Sherbrooke Park Advisers LLC purchased a new position in ORIC Pharmaceuticals in the third quarter worth about $72,000. Finally, Algert Global LLC bought a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at about $81,000. Institutional investors own 95.05% of the company’s stock.

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.