ORIC Pharmaceuticals (NASDAQ:ORIC) Lowered to Market Perform at Oppenheimer

Oppenheimer lowered shares of ORIC Pharmaceuticals (NASDAQ:ORICGet Rating) from an outperform rating to a market perform rating in a research note published on Tuesday, MarketBeat reports.

Shares of ORIC opened at $4.76 on Tuesday. ORIC Pharmaceuticals has a 12-month low of $3.94 and a 12-month high of $26.70. The business’s fifty day moving average price is $8.65 and its 200 day moving average price is $14.21. The stock has a market capitalization of $187.46 million, a PE ratio of -2.04 and a beta of 2.32.

ORIC Pharmaceuticals (NASDAQ:ORICGet Rating) last issued its earnings results on Monday, March 21st. The company reported ($0.58) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.58). During the same period last year, the business earned ($0.84) earnings per share. Sell-side analysts predict that ORIC Pharmaceuticals will post -2.11 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EcoR1 Capital LLC increased its position in ORIC Pharmaceuticals by 12.2% in the third quarter. EcoR1 Capital LLC now owns 3,468,944 shares of the company’s stock worth $72,536,000 after buying an additional 376,726 shares during the period. BlackRock Inc. increased its position in ORIC Pharmaceuticals by 6.2% in the third quarter. BlackRock Inc. now owns 2,410,542 shares of the company’s stock worth $50,406,000 after buying an additional 140,232 shares during the period. Victory Capital Management Inc. increased its position in ORIC Pharmaceuticals by 16.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,805,717 shares of the company’s stock worth $26,544,000 after buying an additional 259,394 shares during the period. State Street Corp increased its holdings in shares of ORIC Pharmaceuticals by 20.0% during the fourth quarter. State Street Corp now owns 1,271,828 shares of the company’s stock valued at $18,696,000 after purchasing an additional 211,929 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of ORIC Pharmaceuticals by 22.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,249,707 shares of the company’s stock valued at $26,131,000 after purchasing an additional 227,809 shares during the period. 93.67% of the stock is currently owned by hedge funds and other institutional investors.

About ORIC Pharmaceuticals (Get Rating)

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for treatment of cancers. The company’s lead product candidate is ORIC-101, a small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across various solid tumors.

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