ORIC Pharmaceuticals' (ORIC) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC - Free Report) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $21.00 price objective on the stock.

ORIC has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price 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. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wedbush restated an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Thursday, March 20th. Finally, Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $19.17.

ORIC Pharmaceuticals Stock Down 4.5 %

ORIC Pharmaceuticals stock traded down $0.24 during midday trading on Monday, reaching $5.08. The stock had a trading volume of 418,639 shares, compared to its average volume of 643,716. The firm has a market cap 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. The company has a fifty day moving average of $5.90 and a 200 day moving average of $8.07.

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

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ORIC. Barclays PLC lifted its stake in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company's stock worth $1,100,000 after purchasing an additional 56,474 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock valued at $9,067,000 after buying an additional 196,804 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ORIC Pharmaceuticals by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company's stock valued at $361,000 after buying an additional 1,279 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of ORIC Pharmaceuticals by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 162,909 shares of the company's stock worth $1,315,000 after buying an additional 24,947 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of ORIC Pharmaceuticals by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock worth $121,000 after acquiring an additional 1,395 shares in the last quarter. Institutional investors 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.