Research Analysts Set Expectations for ORIC FY2024 Earnings

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) – Equities research analysts at Wedbush reduced their FY2024 earnings per share estimates for ORIC Pharmaceuticals in a report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now expects that the company will post earnings per share of ($1.82) for the year, down from their previous estimate of ($1.73). Wedbush currently has a “Outperform” rating and a $20.00 target price on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.80) per share. Wedbush also issued estimates for ORIC Pharmaceuticals’ Q4 2024 earnings at ($0.50) EPS, FY2025 earnings at ($2.18) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($2.24) EPS.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released 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).

ORIC has been the topic of a number of other research reports. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price objective for the company. Oppenheimer reduced their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Trading Down 3.7 %

ORIC opened at $8.50 on Friday. The firm has a market cap of $599.82 million, a price-to-earnings ratio of -4.72 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 stock has a fifty day moving average price of $9.69 and a 200-day moving average price of $9.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ORIC. Price T Rowe Associates Inc. MD grew its stake in ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after acquiring an additional 915,175 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ORIC Pharmaceuticals by 62.0% during the second quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after buying an additional 71,394 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in ORIC Pharmaceuticals in the 2nd quarter valued at $724,000. Monaco Asset Management SAM increased its stake in shares of ORIC Pharmaceuticals by 132.0% in the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock worth $2,133,000 after acquiring an additional 171,650 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $714,000. 95.05% of the stock is owned by institutional investors and hedge funds.

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.