HC Wainwright Reiterates “Buy” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 316.67% from the company’s current price.

ORIC has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Thursday, March 20th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $18.43.

ORIC Pharmaceuticals Trading Down 11.6 %

NASDAQ:ORIC opened at $5.04 on Monday. The stock has a fifty day simple moving average of $6.06 and a 200-day simple moving average of $8.15. The company has a market cap of $358.27 million, a price-to-earnings ratio of -2.77 and a beta of 1.37. ORIC Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.10. As a group, equities research analysts predict that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Legato Capital Management LLC acquired a new stake in shares of ORIC Pharmaceuticals in the 1st quarter worth $109,000. Victory Capital Management Inc. grew its stake in shares of ORIC Pharmaceuticals by 54.1% during the first quarter. Victory Capital Management Inc. now owns 150,260 shares of the company’s stock worth $838,000 after acquiring an additional 52,760 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of ORIC Pharmaceuticals by 137.1% during the first quarter. New York State Common Retirement Fund now owns 38,486 shares of the company’s stock worth $215,000 after acquiring an additional 22,257 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of ORIC Pharmaceuticals during the first quarter valued at about $56,000. Finally, Wellington Management Group LLP raised its position in shares of ORIC Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock valued at $1,504,000 after purchasing an additional 12,042 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.