ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for ORIC Pharmaceuticals’ FY2024 earnings at ($1.82) EPS.

Several other brokerages have also issued reports on ORIC. Wedbush reaffirmed an outperform rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Oppenheimer cut their price objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a report on Tuesday, August 13th. HC Wainwright reiterated a buy rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a buy rating and a $20.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of Buy and an average target price of $18.00.

ORIC Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $10.36 on Monday. The company’s 50-day simple moving average is $10.06 and its 200-day simple moving average is $9.89. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The stock has a market capitalization of $730.79 million, a P/E ratio of -5.76 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, research analysts forecast that ORIC Pharmaceuticals will post -1.78 EPS for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC grew its position in ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the period. XTX Topco Ltd acquired a new stake in ORIC Pharmaceuticals during the 2nd quarter worth about $153,000. Cornercap Investment Counsel Inc. acquired a new position in shares of ORIC Pharmaceuticals in the 2nd quarter valued at about $154,000. Finally, Profund Advisors LLC lifted its holdings in shares of ORIC Pharmaceuticals by 23.6% in the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after buying an additional 4,175 shares during the period. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.