ORIC Pharmaceuticals (NASDAQ:ORIC) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $20.00 target price on the stock.

A number of other equities research analysts have also recently commented on ORIC. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price objective for the company. 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. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, Oppenheimer decreased their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.29.

ORIC Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ ORIC opened at $9.41 on Thursday. ORIC Pharmaceuticals has a 1 year low of $5.85 and a 1 year high of $16.65. The firm’s 50-day moving average is $9.73 and its 200-day moving average is $9.26. The firm has a market capitalization of $663.80 million, a PE ratio of -5.38 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data 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). As a group, equities research analysts anticipate that ORIC Pharmaceuticals will post -1.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares in the last quarter. Quest Partners LLC grew its position in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares in the last quarter. Creative Planning acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at $116,000. China Universal Asset Management Co. Ltd. lifted its position in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of ORIC Pharmaceuticals during the 2nd quarter worth about $153,000. 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.