ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of “Buy” from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $18.29.

ORIC has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd.

Insider Transactions at ORIC Pharmaceuticals

In other news, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. The trade was a 15.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,361 shares of company stock valued at $350,749 over the last 90 days. 5.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC boosted its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares during the last quarter. Creative Planning acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at approximately $132,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of ORIC Pharmaceuticals during the 2nd quarter valued at approximately $153,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Down 6.4 %

ORIC Pharmaceuticals stock opened at $7.96 on Friday. The firm has a market cap of $561.71 million, a PE ratio of -4.42 and a beta of 1.18. The stock’s 50 day simple moving average is $9.01 and its two-hundred day simple moving average is $9.38. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). On average, equities research analysts forecast that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

About ORIC Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.