These Analysts Revise Their Forecasts On ORIC Pharmaceuticals After Q4 Results
Portfolio Pulse from Avi Kapoor
ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) reported a Q4 loss of 49 cents per share, aligning with market estimates. R&D expenses increased to $24.5 million from $16.3 million year-over-year. The company highlighted progress in its clinical programs and financial strengthening through PIPE financings. Shares dropped 2.4% to $14.63. Analysts from Baird, Oppenheimer, and Wedbush adjusted their price targets post-results, with varying degrees of optimism.
March 12, 2024 | 4:55 pm
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ORIC Pharmaceuticals reported a Q4 loss per share of 49 cents, matching market expectations. R&D expenses rose, and the company emphasized progress in clinical programs. Shares fell 2.4% following the announcement.
The reported Q4 loss and increased R&D expenses are in line with expectations, indicating a neutral to slightly negative short-term impact on stock price. However, the share price drop of 2.4% post-earnings suggests a negative market reaction. Analysts' mixed adjustments to price targets reflect ongoing optimism about the company's long-term prospects despite short-term challenges.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100