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

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

A number of other brokerages have also recently weighed in on ORIC. JPMorgan Chase & Co. boosted their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $19.17.

ORIC Pharmaceuticals Stock Down 4.5 %

Shares of NASDAQ:ORIC traded down $0.24 during trading on Tuesday, reaching $5.08. 418,639 shares of the company traded hands, compared to its average volume of 645,328. The firm has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $8.06. ORIC Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67. The firm has a market cap of $361.13 million, a P/E ratio of -2.79 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. As a group, research analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in 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 purchasing an additional 56,474 shares during the period. Franklin Resources Inc. increased its holdings in shares of ORIC Pharmaceuticals by 26.1% during the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after purchasing an additional 196,804 shares during the period. Wellington Management Group LLP boosted its stake in shares of ORIC Pharmaceuticals by 6.9% in the fourth quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock valued at $1,504,000 after buying an additional 12,042 shares during the period. NEOS Investment Management LLC bought a new position in ORIC Pharmaceuticals during the 4th quarter worth $367,000. Finally, Diadema Partners LP acquired 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.