ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.29 Consensus Price Target from Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given a consensus recommendation of “Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $18.29.

Several equities analysts have issued reports on ORIC shares. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 price target for the company. Oppenheimer lowered their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new stake in ORIC Pharmaceuticals during the 1st quarter valued at $161,000. Vanguard Group Inc. raised its stake in ORIC Pharmaceuticals by 27.9% in the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after purchasing an additional 629,536 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after purchasing an additional 915,175 shares during the last quarter. NEA Management Company LLC bought a new position in shares of ORIC Pharmaceuticals in the 1st quarter worth $20,625,000. Finally, Virtu Financial LLC purchased a new stake in shares of ORIC Pharmaceuticals during the 1st quarter valued at $225,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Trading Up 2.9 %

Shares of ORIC opened at $9.87 on Friday. The stock has a market capitalization of $696.53 million, a PE ratio of -5.33 and a beta of 1.13. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The firm’s 50 day moving average is $9.61 and its 200-day moving average is $9.31.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Equities research analysts predict that ORIC Pharmaceuticals will post -1.85 earnings per share for the current fiscal year.

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.