Does Oric Pharmaceuticals (ORIC) Have the Potential to Rally 104.99% as Wall Street Analysts Expect?

Core Viewpoint - Oric Pharmaceuticals, Inc. (ORIC) has seen a significant stock price increase of 57.1% over the past four weeks, closing at $9.22, with analysts suggesting a potential upside of 105% based on a mean price target of $18.9 [1][11]. Price Targets and Analyst Estimates - The mean estimate consists of 10 short-term price targets with a standard deviation of $4.04, indicating variability among analysts [2]. - The lowest price target is $12.00, suggesting a 30.2% increase from the current price, while the highest target is $25.00, indicating a potential surge of 171.2% [2]. - A low standard deviation signifies a strong agreement among analysts regarding the stock's price movement [9]. Earnings Estimates and Analyst Agreement - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [11]. - Over the last 30 days, two earnings estimates for ORIC have been revised upward, leading to a 7.8% increase in the Zacks Consensus Estimate [12]. - ORIC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors [13]. Conclusion on Price Movement - While consensus price targets may not be entirely reliable, the direction indicated by these targets appears to be a useful guide for potential price movement [14].