HC Wainwright Reaffirms "Buy" Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $21.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 121.52% from the company's previous close.

A number of other research firms also recently issued reports on ORIC. Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a "buy" rating and a $20.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a research report on Thursday. They set an "overweight" rating and a $20.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Oppenheimer decreased their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Eight equities research 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 Trading Up 0.7 %

Shares of NASDAQ:ORIC traded up $0.07 during trading on Monday, reaching $9.48. 617,528 shares of the company traded hands, compared to its average volume of 519,830. ORIC Pharmaceuticals has a 52-week low of $5.85 and a 52-week high of $16.65. The firm has a market capitalization of $668.74 million, a price-to-earnings ratio of -4.99 and a beta of 1.13. The business's fifty day moving average is $9.73 and its 200-day moving average is $9.25.

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

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in ORIC Pharmaceuticals during the first quarter valued at approximately $161,000. Vanguard Group Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 27.9% during the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company's stock worth $39,628,000 after purchasing an additional 629,536 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ORIC Pharmaceuticals by 140.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company's stock valued at $21,543,000 after purchasing an additional 915,175 shares in the last quarter. NEA Management Company LLC purchased a new stake in shares of ORIC Pharmaceuticals in the first quarter valued at approximately $20,625,000. Finally, Virtu Financial LLC purchased a new stake in ORIC Pharmaceuticals in the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 95.05% of the company's stock.

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.