FY2024 EPS Estimates for ORIC Reduced by Cantor Fitzgerald

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) - Investment analysts at Cantor Fitzgerald lowered their FY2024 earnings estimates for shares of ORIC Pharmaceuticals in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst P. Agrawal now forecasts that the company will post earnings per share of ($1.85) for the year, down from their previous estimate of ($1.82). Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for ORIC Pharmaceuticals' current full-year earnings is ($1.85) per share.

A number of other brokerages have also issued reports on ORIC. Oppenheimer decreased 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. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a "buy" rating and a $20.00 price objective for the company. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an "overweight" rating and a $20.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $18.29.

ORIC Pharmaceuticals Stock Performance

NASDAQ:ORIC remained flat at $8.50 during mid-day trading on Monday. 281,159 shares of the company's stock traded hands, compared to its average volume of 517,694. The business has a 50-day simple moving average of $9.69 and a 200 day simple moving average of $9.33. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The stock has a market capitalization of $599.85 million, a P/E ratio of -4.73 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.01).

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company's stock valued at $36,000 after acquiring an additional 3,188 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 4.1% in the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company's stock valued at $1,022,000 after purchasing an additional 3,900 shares during the period. Profund Advisors LLC boosted its position in ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company's stock worth $155,000 after acquiring an additional 4,175 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company's stock worth $139,000 after acquiring an additional 5,646 shares during the period. Finally, Quest Partners LLC raised its stake in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company's stock worth $73,000 after purchasing an additional 7,440 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company's stock.

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.