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 Wednesday at $21.50, close to its 52-week low of $18.60.

According to TipRanks.com, Burns is a 4-star analyst with an average return of 9.4% and a 39.4% success rate. Burns covers the Healthcare sector, focusing on stocks such as Forma Therapeutics Holdings, Black Diamond Therapeutics, and Turning Point Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Oric Pharmaceuticals with a $50.33 average price target, implying an 117.2% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $52.00 price target.

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Based on Oric Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $16.51 million. In comparison, last year the company had a GAAP net loss of $8.87 million.

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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.

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