Stifel Initiates Coverage of ORIC Pharmaceuticals (ORIC) with Buy Recommendation

Fintel reports that on September 6, 2024, Stifel initiated coverage of ORIC Pharmaceuticals (NasdaqGS:ORIC) with a Buy recommendation.

Analyst Price Forecast Suggests 97.81% Upside

As of August 26, 2024, the average one-year price target for ORIC Pharmaceuticals is $19.09/share. The forecasts range from a low of $14.14 to a high of $26.25. The average price target represents an increase of 97.81% from its latest reported closing price of $9.65 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ORIC Pharmaceuticals is 0MM. The projected annual non-GAAP EPS is -2.71.

What is the Fund Sentiment?

There are 272 funds or institutions reporting positions in ORIC Pharmaceuticals. This is an increase of 12 owner(s) or 4.62% in the last quarter. Average portfolio weight of all funds dedicated to ORIC is 0.26%, an increase of 21.17%. Total shares owned by institutions increased in the last three months by 6.18% to 72,367K shares. The put/call ratio of ORIC is 0.49, indicating a bullish outlook.

What are Other Shareholders Doing?

Nextech Invest holds 5,286K shares representing 7.49% ownership of the company. No change in the last quarter.

VR Adviser holds 4,395K shares representing 6.23% ownership of the company. No change in the last quarter.

Frazier Life Sciences Management holds 4,143K shares representing 5.87% ownership of the company. No change in the last quarter.

Viking Global Investors holds 4,000K shares representing 5.67% ownership of the company. No change in the last quarter.

Alkeon Capital Management holds 3,804K shares representing 5.39% ownership of the company. In its prior filing, the firm reported owning 3,704K shares , representing an increase of 2.63%. The firm decreased its portfolio allocation in ORIC by 79.32% over the last quarter.

ORIC Pharmaceuticals Background Information
(This description is provided by the company.)

ORIC Pharmaceuticalsis a clinical stage biopharmaceutical company dedicated to improving patients' lives by Overcoming Resistance In Cancer. ORIC's lead product candidate, ORIC-101, is a potent and selective small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across a variety of solid tumors. ORIC-101 is currently in two separate Phase 1b trials in combination with (1) Abraxane (nab-paclitaxel) in advanced or metastatic solid tumors and (2) Xtandi (enzalutamide) in metastatic prostate cancer. ORIC's other product candidates include (1) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-114, a brain penetrant inhibitor designed to selectively target EGFR and HER2 with high potency against exon 20 insertion mutations, being developed across multiple genetically defined cancers. Beyond these four product candidates, ORIC is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California.

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