ORIC Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Beats Estimates By $0.09 EPS

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

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC traded up $0.81 during midday trading on Thursday, reaching $5.51. The company had a trading volume of 278,644 shares, compared to its average volume of 640,624. The firm has a market cap of $391.68 million, a price-to-earnings ratio of -3.03 and a beta of 1.37. The company has a fifty day simple moving average of $5.99 and a two-hundred day simple moving average of $8.12. ORIC Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Oppenheimer lowered their price objective on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $19.17.

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.