H.C. Wainwright Thinks Oric Pharmaceuticals’ Stock is Going to Recover
H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Oric Pharmaceuticals (ORIC) today and set a price target of $54.00. The company’s shares closed last Tuesday at $19.72, close to its 52-week low of $18.60.
According to TipRanks.com, Burns is a 4-star analyst with an average return of 13.1% and a 38.8% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Turning Point Therapeutics, and Black Diamond Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Oric Pharmaceuticals with a $46.25 average price target, representing a 131.4% upside. In a report issued on April 11, Oppenheimer also maintained a Buy rating on the stock with a $52.00 price target.
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Oric Pharmaceuticals’ market cap is currently $723.6M and has a P/E ratio of -7.80. The company has a Price to Book ratio of 2.49.
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ORIC Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. It has a pipeline of therapies designed to counter resistance mechanisms in cancer by leveraging its expertise within three specific areas: hormone-dependent cancers, precision oncology, and key tumor dependencies. The company has product candidates namely, ORIC-101 and ORIC-533.