ORIC Pharmaceuticals (NASDAQ:ORIC) Announces Quarterly Earnings Results

ORIC Pharmaceuticals (NASDAQ:ORIC) posted its quarterly earnings data on Tuesday. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01), Zacks reports.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC traded up $0.45 during trading hours on Wednesday, hitting $10.71. 128,467 shares of the company were exchanged, compared to its average volume of 515,408. The firm has a fifty day simple moving average of $9.71 and a 200-day simple moving average of $9.32. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ORIC shares. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday. Oppenheimer lowered their target price 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. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.29.

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.