Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.00

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has earned a consensus rating of "Buy" from the seven research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a "buy" rating and a $20.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Wedbush reiterated an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, August 13th.

Institutional Trading of ORIC Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company's stock valued at $36,000 after purchasing an additional 3,188 shares during the period. Quest Partners LLC lifted its position in shares of 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 buying an additional 7,440 shares during the last quarter. Creative Planning bought a new position in shares of ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. ProShare Advisors LLC acquired a new position in shares of ORIC Pharmaceuticals during the 1st quarter worth approximately $161,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company's stock valued at $139,000 after acquiring an additional 5,646 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

ORIC Pharmaceuticals Trading Up 6.5 %

Shares of NASDAQ:ORIC traded up $0.55 during trading on Tuesday, hitting $9.00. 1,369,087 shares of the company's stock traded hands, compared to its average volume of 520,024. The company has a 50-day moving average price of $9.76 and a 200-day moving average price of $9.26. ORIC Pharmaceuticals has a 52 week low of $5.85 and a 52 week high of $16.65. The company has a market cap of $634.86 million, a price-to-earnings ratio of -5.18 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, analysts predict that ORIC Pharmaceuticals will post -1.8 earnings per share for the current fiscal year.

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.