ORIC Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Misses Estimates By $0.01 EPS

ORIC Pharmaceuticals (NASDAQ:ORIC) released its quarterly earnings results on Tuesday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01), Zacks reports.

ORIC Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $8.83 on Friday. The company has a market cap of $623.11 million, a PE ratio of -4.91 and a beta of 1.13. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The firm’s 50 day moving average price is $9.72 and its 200-day moving average price is $9.33.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ORIC shares. Oppenheimer dropped their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.29.

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.