ORIC Pharmaceuticals (NASDAQ:ORIC) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note released on Monday, Benzinga reports. Cantor Fitzgerald also issued estimates for ORIC Pharmaceuticals’ FY2024 earnings at ($1.82) EPS.

Several other research analysts have also commented on the company. Wedbush reaffirmed an outperform rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Stifel Nicolaus began 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 objective on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an outperform rating on the stock in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a buy rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Seven 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 $18.00.

ORIC Pharmaceuticals Trading Down 7.0 %

Shares of ORIC Pharmaceuticals stock opened at $10.00 on Monday. The company has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $9.88. The stock has a market cap of $705.40 million, a price-to-earnings ratio of -5.56 and a beta of 1.12. ORIC Pharmaceuticals has a 12-month low of $5.27 and a 12-month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, analysts forecast that ORIC Pharmaceuticals will post -1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 purchasing an additional 3,188 shares during the period. Quest Partners LLC grew its holdings in ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 shares during the period. XTX Topco Ltd purchased a new position in ORIC Pharmaceuticals in the second quarter worth $153,000. Cornercap Investment Counsel Inc. acquired a new stake in ORIC Pharmaceuticals in the second quarter valued at $154,000. Finally, Profund Advisors LLC boosted its position in shares of ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after purchasing an additional 4,175 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.