Cantor Fitzgerald Reiterates "Overweight" Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "overweight" rating restated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports.

ORIC has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.86.

ORIC Pharmaceuticals Trading Up 0.5 %

ORIC stock opened at $5.70 on Tuesday. ORIC Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.67. The stock has a market cap of $405.18 million, a price-to-earnings ratio of -3.13 and a beta of 1.37. The business's 50-day moving average is $6.12 and its 200 day moving average is $8.17.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.10. As a group, equities analysts forecast that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of large investors have recently made changes to their positions in ORIC. Barclays PLC raised its stake in shares of ORIC Pharmaceuticals by 111.2% in the 3rd quarter. Barclays PLC now owns 107,261 shares of the company's stock valued at $1,100,000 after acquiring an additional 56,474 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock valued at $9,067,000 after buying an additional 196,804 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of ORIC Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after purchasing an additional 12,042 shares during the period. NEOS Investment Management LLC bought a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at $367,000. Finally, Diadema Partners LP bought a new stake in ORIC Pharmaceuticals during the fourth quarter worth about $1,729,000. Institutional investors and hedge funds 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.

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