Oppenheimer Has Lowered Expectations for ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price target decreased by Oppenheimer from $15.00 to $12.00 in a report published on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other analysts have also recently commented on ORIC. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. increased their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock 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 report on Tuesday. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, March 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of “Buy” and an average target price of $18.43.

ORIC Pharmaceuticals Stock Performance

ORIC stock opened at $5.04 on Tuesday. ORIC Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.67. The company has a market capitalization of $358.27 million, a price-to-earnings ratio of -2.77 and a beta of 1.37. The business’s 50 day moving average price is $6.06 and its two-hundred day moving average price is $8.15.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.10. Sell-side analysts forecast that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in ORIC Pharmaceuticals during the fourth quarter valued at approximately $50,000. Arizona State Retirement System purchased a new stake in ORIC Pharmaceuticals during the 1st quarter valued at $56,000. BNP Paribas Financial Markets bought a new position in shares of ORIC Pharmaceuticals during the 4th quarter valued at $71,000. PNC Financial Services Group Inc. grew its holdings in shares of ORIC Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after acquiring an additional 2,520 shares during the period. Finally, Legato Capital Management LLC bought a new position in ORIC Pharmaceuticals in the first quarter valued at about $109,000. Hedge funds and other 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.