Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.86

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been given an average recommendation of "Buy" by the nine brokerages that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $18.86.

Several brokerages recently issued reports on ORIC. HC Wainwright reissued a "buy" rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, March 20th. Finally, Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in ORIC Pharmaceuticals during the fourth quarter valued at about $50,000. BNP Paribas Financial Markets purchased a new stake in shares of ORIC Pharmaceuticals during the 4th quarter valued at approximately $71,000. PNC Financial Services Group Inc. boosted its holdings in ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after buying an additional 2,520 shares during the period. Janus Henderson Group PLC bought a new position in ORIC Pharmaceuticals in the 4th quarter worth approximately $118,000. Finally, Tower Research Capital LLC TRC grew its stake in ORIC Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock valued at $118,000 after buying an additional 13,384 shares in the last quarter. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC stock traded down $0.09 during mid-day trading on Tuesday, hitting $5.10. The company's stock had a trading volume of 362,897 shares, compared to its average volume of 634,534. The company has a market cap of $362.24 million, a PE ratio of -2.80 and a beta of 1.38. The company's fifty day simple moving average is $6.39 and its 200-day simple moving average is $8.34. ORIC Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.67.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.01. On average, equities analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current 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.