The Manufacturers Life Insurance Company Has $929,000 Stake in ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)

The Manufacturers Life Insurance Company grew its stake in shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,350 shares of the company’s stock after buying an additional 9,424 shares during the period. The Manufacturers Life Insurance Company’s holdings in ORIC Pharmaceuticals were worth $929,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after acquiring an additional 915,175 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of ORIC Pharmaceuticals during the second quarter worth $724,000. Bank of New York Mellon Corp grew its holdings in shares of ORIC Pharmaceuticals by 62.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock valued at $1,318,000 after buying an additional 71,394 shares during the period. Monaco Asset Management SAM increased its position in shares of ORIC Pharmaceuticals by 132.0% in the 2nd quarter. Monaco Asset Management SAM now owns 301,650 shares of the company’s stock valued at $2,133,000 after buying an additional 171,650 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in ORIC Pharmaceuticals during the 1st quarter worth $161,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Up 0.5 %

Shares of ORIC opened at $9.33 on Monday. ORIC Pharmaceuticals, Inc. has a twelve month low of $5.27 and a twelve month high of $16.65. The stock has a market capitalization of $658.14 million, a P/E ratio of -5.33 and a beta of 1.12. The company has a 50 day moving average of $9.79 and a 200-day moving average of $9.49.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, sell-side analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ORIC. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 target price for the company. Oppenheimer decreased their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Wednesday, September 18th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.00.

ORIC Pharmaceuticals Profile

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.