ORIC Pharmaceuticals' (ORIC) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "overweight" rating reiterated by Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports.

A number of other research firms also recently issued reports on ORIC. Wedbush increased their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, March 1st. JPMorgan Chase & Co. decreased their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, March 27th. Citigroup decreased their price objective on ORIC Pharmaceuticals from $15.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, May 7th. Finally, HC Wainwright increased their price objective on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $20.00.

ORIC Pharmaceuticals Stock Down 2.4 %

Shares of ORIC traded down $0.17 during mid-day trading on Thursday, hitting $7.01. 346,434 shares of the company's stock traded hands, compared to its average volume of 504,574. ORIC Pharmaceuticals has a 1 year low of $5.27 and a 1 year high of $16.65. The firm has a market capitalization of $472.61 million, a P/E ratio of -3.89 and a beta of 1.18. The business's 50-day moving average price is $8.76 and its 200-day moving average price is $10.31.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results on Monday, May 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.07. Sell-side analysts anticipate that ORIC Pharmaceuticals will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently modified their holdings of ORIC. AJOVista LLC purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth $58,000. Strs Ohio purchased a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth $72,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter worth $72,000. Finally, Algert Global LLC purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter valued at $81,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

About ORIC Pharmaceuticals

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.