ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Buy Rating from HC Wainwright

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $21.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 88.17% from the stock’s current price.

A number of other analysts also recently issued reports on ORIC. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. Oppenheimer cut their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $18.00.

Check Out Our Latest Stock Analysis on ORIC

ORIC Pharmaceuticals Trading Up 4.6 %

ORIC stock opened at $11.16 on Wednesday. The company has a market cap of $752.43 million, a price-to-earnings ratio of -6.20 and a beta of 1.12. ORIC Pharmaceuticals has a 12 month low of $5.27 and a 12 month high of $16.65. The firm has a 50-day moving average of $10.04 and a two-hundred day moving average of $10.06.

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). As a group, equities analysts forecast that ORIC Pharmaceuticals will post -1.78 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. NEA Management Company LLC purchased a new position in ORIC Pharmaceuticals in the 1st quarter valued at approximately $20,625,000. Price T Rowe Associates Inc. MD boosted its position in ORIC Pharmaceuticals by 140.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after buying an additional 915,175 shares during the period. Vanguard Group Inc. boosted its position in ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after buying an additional 629,536 shares during the period. Millennium Management LLC boosted its position in ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after buying an additional 585,447 shares during the period. Finally, First Turn Management LLC boosted its position in ORIC Pharmaceuticals by 38.1% in the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after buying an additional 418,389 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

(Get Free Report)

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.

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