ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.86 Average PT from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have received an average recommendation of "Buy" from the nine ratings firms that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.86.

ORIC has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Wedbush reissued an "outperform" rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Thursday, March 20th.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in ORIC Pharmaceuticals during the fourth quarter valued at about $50,000. BNP Paribas Financial Markets acquired a new stake in ORIC Pharmaceuticals in the 4th quarter worth approximately $71,000. PNC Financial Services Group Inc. boosted its position in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after purchasing an additional 2,520 shares during the period. Janus Henderson Group PLC acquired a new position in ORIC Pharmaceuticals during the fourth quarter valued at approximately $118,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ORIC Pharmaceuticals by 1,048.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock valued at $118,000 after purchasing an additional 13,384 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Down 1.7 %

Shares of ORIC Pharmaceuticals stock traded down $0.09 during trading on Tuesday, hitting $5.10. The stock had a trading volume of 362,897 shares, compared to its average volume of 635,470. ORIC Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.67. The stock has a 50 day simple moving average of $6.39 and a 200 day simple moving average of $8.33. The company has a market capitalization of $362.24 million, a PE ratio of -2.80 and a beta of 1.38.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, equities analysts expect that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

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.