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

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

ORIC Pharmaceuticals Trading Up 3.0 %

NASDAQ ORIC traded up $0.31 during trading hours on Wednesday, reaching $10.57. 115,804 shares of the company’s stock traded hands, compared to its average volume of 515,350. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The firm has a 50-day simple moving average of $9.71 and a 200 day simple moving average of $9.32.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ORIC. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective for the company. Stifel Nicolaus assumed coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price for the company. Oppenheimer dropped their price target on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.29.

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.