ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Buy” by Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.29.

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

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $9.97 on Friday. The stock’s fifty day simple moving average is $9.61 and its 200 day simple moving average is $9.32. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65. The firm has a market cap of $703.58 million, a price-to-earnings ratio of -5.44 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). On average, research analysts anticipate that ORIC Pharmaceuticals will post -1.84 earnings per share for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock valued at $9,067,000 after acquiring an additional 196,804 shares during the last quarter. Barclays PLC increased its holdings in ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after purchasing an additional 56,474 shares during the last quarter. Geode Capital Management LLC increased its holdings in ORIC Pharmaceuticals by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company’s stock valued at $13,056,000 after purchasing an additional 50,821 shares during the last quarter. M&T Bank Corp lifted its stake in ORIC Pharmaceuticals by 19.2% in the third quarter. M&T Bank Corp now owns 85,137 shares of the company’s stock valued at $873,000 after buying an additional 13,711 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in ORIC Pharmaceuticals by 42.0% during the third quarter. Wellington Management Group LLP now owns 174,388 shares of the company’s stock worth $1,787,000 after buying an additional 51,565 shares during the last quarter. Institutional investors own 95.05% of the company’s stock.

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.