Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) PT at $20.00

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.00.

A number of research firms recently commented on ORIC. Cantor Fitzgerald assumed coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. HC Wainwright increased their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Citigroup cut their price target on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush lifted their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st.

ORIC Pharmaceuticals Stock Performance

ORIC stock opened at $9.50 on Tuesday. The company has a market capitalization of $640.49 million, a P/E ratio of -4.85 and a beta of 1.19. The company has a fifty day moving average price of $11.78 and a 200-day moving average price of $9.96. ORIC Pharmaceuticals has a 52-week low of $4.91 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). As a group, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ORIC. AJOVista LLC acquired a new stake in ORIC Pharmaceuticals in the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $58,000. Strs Ohio acquired a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $72,000. Tower Research Capital LLC TRC increased its position in ORIC Pharmaceuticals by 19.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after buying an additional 1,517 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals during the 1st quarter worth approximately $161,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.