Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $19.50

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received an average rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $19.50.

A number of analysts recently commented on ORIC shares. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, July 17th. HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Wednesday, July 17th. Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, July 10th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Thursday, June 20th. Finally, Citigroup cut their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th.

ORIC Pharmaceuticals Price Performance

ORIC stock opened at $11.24 on Friday. The company has a 50 day moving average price of $8.62 and a 200 day moving average price of $10.29. ORIC Pharmaceuticals has a fifty-two week low of $5.27 and a fifty-two week high of $16.65. The stock has a market capitalization of $757.82 million, a PE ratio of -6.28 and a beta of 1.14.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.07. As a group, equities analysts expect that ORIC Pharmaceuticals will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ORIC. Victory Capital Management Inc. increased its holdings in shares of ORIC Pharmaceuticals by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 126,030 shares of the company’s stock worth $1,159,000 after purchasing an additional 1,180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in ORIC Pharmaceuticals by 6.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,043 shares of the company’s stock worth $203,000 after purchasing an additional 1,362 shares during the period. Tower Research Capital LLC TRC increased its stake in ORIC Pharmaceuticals by 19.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,255 shares of the company’s stock valued at $85,000 after acquiring an additional 1,517 shares during the last quarter. AJOVista LLC acquired a new position in shares of ORIC Pharmaceuticals during the 4th quarter worth $40,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth $58,000. Institutional investors own 95.05% of the company’s stock.

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.