ORIC Pharmaceuticals (NASDAQ:ORIC) Earns Outperform Rating from Wedbush

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued on Thursday,RTT News reports. They presently have a $20.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 166.31% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Finally, Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.86.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC traded up $0.04 during mid-day trading on Thursday, hitting $7.51. 619,930 shares of the company’s stock were exchanged, compared to its average volume of 586,727. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $15.35. The business has a fifty day moving average price of $9.11 and a 200 day moving average price of $9.27. The company has a market cap of $533.41 million, a PE ratio of -4.13 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. On average, equities analysts forecast that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently bought and sold shares of ORIC. Victory Capital Management Inc. grew its stake in ORIC Pharmaceuticals by 4.1% during the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after acquiring an additional 3,900 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ORIC Pharmaceuticals during the third quarter valued at $132,000. Intech Investment Management LLC purchased a new position in ORIC Pharmaceuticals during the third quarter valued at $200,000. Charles Schwab Investment Management Inc. lifted its position in ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after purchasing an additional 247,863 shares during the last quarter. Finally, Alkeon Capital Management LLC lifted its position in ORIC Pharmaceuticals by 2.6% during the third quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock valued at $40,017,000 after purchasing an additional 100,000 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.