ORIC Pharmaceuticals (NASDAQ:ORIC) Issues Quarterly Earnings Results

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) announced its earnings results on Monday. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.09, Zacks reports.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC traded down $0.24 during trading hours on Friday, hitting $5.08. 418,639 shares of the company were exchanged, compared to its average volume of 645,328. The company's 50 day moving average price is $5.90 and its 200-day moving average price is $8.06. The stock has a market capitalization of $361.13 million, a price-to-earnings ratio of -2.79 and a beta of 1.37. ORIC Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.67.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer reduced their price target on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday. Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, March 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $19.17.

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.