ORIC Pharmaceuticals’ (ORIC) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Tuesday morning,Benzinga reports.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average price target of $19.17.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC opened at $5.28 on Tuesday. The stock has a market capitalization of $375.54 million, a price-to-earnings ratio of -2.90 and a beta of 1.37. ORIC Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67. The company has a 50 day moving average price of $5.95 and a 200 day moving average price of $8.09.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.09. On average, sell-side analysts expect that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several large investors have recently made changes to their positions in ORIC. Barclays PLC grew its position in ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock worth $1,100,000 after acquiring an additional 56,474 shares in the last quarter. Franklin Resources Inc. boosted its holdings in ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after purchasing an additional 196,804 shares in the last quarter. Wellington Management Group LLP boosted its holdings in ORIC Pharmaceuticals by 6.9% in the fourth quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock worth $1,504,000 after purchasing an additional 12,042 shares in the last quarter. NEOS Investment Management LLC bought a new position in ORIC Pharmaceuticals during the fourth quarter valued at about $367,000. Finally, Diadema Partners LP acquired a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth about $1,729,000. Institutional investors 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.