ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of "Buy" from Brokerages

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have received a consensus recommendation of "Buy" from the six ratings firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $20.00.

Several research analysts recently commented on ORIC shares. JPMorgan Chase & Co. reduced their price target on ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, March 27th. Wedbush upped their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Citigroup dropped their price objective on ORIC Pharmaceuticals from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday. HC Wainwright upped their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald began coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an "overweight" rating on the stock.

Institutional Inflows and Outflows

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

ORIC Pharmaceuticals Stock Performance

Shares of ORIC Pharmaceuticals stock traded up $0.24 during trading on Tuesday, reaching $9.61. The company's stock had a trading volume of 375,149 shares, compared to its average volume of 542,673. ORIC Pharmaceuticals has a one year low of $4.90 and a one year high of $16.65. The firm has a market cap of $647.91 million, a price-to-earnings ratio of -4.90 and a beta of 1.19. The business's fifty day moving average price is $11.88 and its 200-day moving average price is $9.96.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts' consensus estimates of ($0.49). Sell-side analysts anticipate that ORIC Pharmaceuticals will post -1.75 EPS for the current year.

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.