FY2024 EPS Estimate for ORIC Pharmaceuticals Cut by Analyst

by · The Markets Daily

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Free Report) – Investment analysts at Wedbush decreased their FY2024 EPS estimates for ORIC Pharmaceuticals in a report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($1.82) per share for the year, down from their previous forecast of ($1.73). Wedbush has a “Outperform” rating and a $20.00 price target on the stock. The consensus estimate for ORIC Pharmaceuticals’ current full-year earnings is ($1.80) per share. Wedbush also issued estimates for ORIC Pharmaceuticals’ Q4 2024 earnings at ($0.50) EPS, FY2025 earnings at ($2.18) EPS, FY2026 earnings at ($2.08) EPS and FY2027 earnings at ($2.24) EPS.

Several other equities research analysts have also weighed in on ORIC. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a research report on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Oppenheimer lowered their price target on shares of 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 set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.29.

Check Out Our Latest Stock Analysis on ORIC Pharmaceuticals

ORIC Pharmaceuticals Trading Down 14.0 %

ORIC stock opened at $8.83 on Friday. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The business’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $9.33.

ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01).

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after buying an additional 3,188 shares during the last quarter. Quest Partners LLC increased its holdings in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares in the last quarter. Creative Planning purchased a new position in shares of ORIC Pharmaceuticals in the third quarter worth $116,000. ProShare Advisors LLC bought a new position in shares of ORIC Pharmaceuticals during the first quarter valued at $161,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ORIC Pharmaceuticals during the third quarter valued at $132,000. 95.05% of the stock is currently owned by institutional investors.

About ORIC Pharmaceuticals

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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.

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