Citigroup Lowers ORIC Pharmaceuticals (NASDAQ:ORIC) Price Target to $14.00

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price target reduced by stock analysts at Citigroup from $15.00 to $14.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 45.08% from the company’s previous close.

ORIC has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. HC Wainwright upped their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Wedbush lifted their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald started coverage on ORIC Pharmaceuticals in a report on Friday, February 23rd. They issued an “overweight” rating for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $20.00.

ORIC Pharmaceuticals Stock Performance

ORIC Pharmaceuticals stock traded up $0.28 during trading on Tuesday, reaching $9.65. 183,985 shares of the company’s stock were exchanged, compared to its average volume of 540,439. The company’s 50-day moving average is $11.93 and its two-hundred day moving average is $9.94. ORIC Pharmaceuticals has a 52-week low of $4.90 and a 52-week high of $16.65. The firm has a market cap of $650.60 million, a price-to-earnings ratio of -4.93 and a beta of 1.19.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). Analysts anticipate that ORIC Pharmaceuticals will post -1.75 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC raised its position in shares of ORIC Pharmaceuticals by 104.8% during the 3rd quarter. Jump Financial LLC now owns 32,149 shares of the company’s stock valued at $195,000 after acquiring an additional 16,449 shares in the last quarter. Monaco Asset Management SAM raised its holdings in shares of ORIC Pharmaceuticals by 1.7% during the third quarter. Monaco Asset Management SAM now owns 384,793 shares of the company’s stock worth $2,328,000 after purchasing an additional 6,571 shares during the period. Vivo Capital LLC acquired a new stake in shares of ORIC Pharmaceuticals during the third quarter worth $4,707,000. Algert Global LLC bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $81,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at about $72,000. Institutional investors and hedge funds 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.