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

Wedbush reissued their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Tuesday morning,RTT News reports. The firm currently has a $20.00 target price on the stock. Wedbush also issued estimates for ORIC Pharmaceuticals’ Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($1.82) EPS, FY2025 earnings at ($2.18) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($2.24) EPS.

A number of other brokerages have also commented on ORIC. Oppenheimer cut their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC traded down $0.66 on Tuesday, hitting $8.17. 125,640 shares of the company were exchanged, compared to its average volume of 516,308. The company’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $9.33. The firm has a market capitalization of $576.53 million, a price-to-earnings ratio of -4.59 and a beta of 1.13. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Research analysts predict that ORIC Pharmaceuticals will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after buying an additional 3,188 shares in the last quarter. Quest Partners LLC grew its holdings in ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 shares during the last quarter. Creative Planning acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ORIC Pharmaceuticals in the third quarter worth about $132,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after purchasing an additional 5,646 shares in the last quarter. 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.