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

ORIC Pharmaceuticals (NASDAQ:ORIC) announced its 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 Up 4.4 %

ORIC traded up $0.45 during trading hours on Wednesday, reaching $10.71. The company’s stock had a trading volume of 128,467 shares, compared to its average volume of 515,408. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The company’s 50-day moving average is $9.71 and its 200-day moving average is $9.32.

Wall Street Analyst Weigh In

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