ORIC Pharmaceuticals’ (ORIC) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price for the company. Oppenheimer reduced their price objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $18.00.

ORIC Pharmaceuticals Stock Down 0.1 %

NASDAQ ORIC opened at $11.24 on Monday. The stock has a market capitalization of $792.87 million, a P/E ratio of -6.25 and a beta of 1.12. ORIC Pharmaceuticals has a 52-week low of $5.27 and a 52-week high of $16.65. The firm has a 50-day moving average price of $10.06 and a 200 day moving average price of $9.95.

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

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in ORIC Pharmaceuticals by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock worth $929,000 after acquiring an additional 9,424 shares during the last quarter. Millennium Management LLC raised its position in shares of ORIC Pharmaceuticals by 297.4% during the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after purchasing an additional 585,447 shares during the last quarter. Squarepoint Ops LLC lifted its stake in ORIC Pharmaceuticals by 95.6% in the 2nd quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock valued at $240,000 after buying an additional 16,613 shares in the last quarter. Profund Advisors LLC grew its holdings in ORIC Pharmaceuticals by 23.6% during 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 last quarter. Finally, XTX Topco Ltd purchased a new position in ORIC Pharmaceuticals during the second quarter worth $153,000. 95.05% of the stock is currently 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.