ORIC Pharmaceuticals’ (ORIC) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report issued on Tuesday morning,RTT News reports. The brokerage currently has a $20.00 target price on the stock. Wedbush also issued estimates for ORIC Pharmaceuticals’ Q4 2024 earnings at ($0.50) EPS, FY2024 earnings at ($1.82) EPS, FY2025 earnings at ($2.18) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($2.24) EPS.

Several other equities research analysts have also recently weighed in on ORIC. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target for the company. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Oppenheimer dropped their price objective 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC Pharmaceuticals stock opened at $8.50 on Tuesday. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The stock has a market capitalization of $599.82 million, a P/E ratio of -4.72 and a beta of 1.13. The stock’s 50-day simple moving average is $9.69 and its 200 day simple moving average is $9.33.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Equities research analysts forecast that ORIC Pharmaceuticals will post -1.8 EPS for the current fiscal year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after acquiring an additional 3,188 shares during the period. Quest Partners LLC raised its holdings in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares in the last quarter. Creative Planning purchased a new position in ORIC Pharmaceuticals during the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after buying an additional 5,646 shares during the last quarter. 95.05% of the stock is currently 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.