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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.71.

ORIC has been the subject of several research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Finally, 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 for the company.

Insider Activity

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of the firm’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 transaction of $204,184.80. Following the sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. The trade was a 15.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of ORIC Pharmaceuticals by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after acquiring an additional 1,279 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after purchasing an additional 1,395 shares during the period. PNC Financial Services Group Inc. increased its stake in ORIC Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares during the period. Swiss National Bank raised its holdings in shares of ORIC Pharmaceuticals by 5.4% in the fourth quarter. Swiss National Bank now owns 62,400 shares of the company’s stock valued at $504,000 after buying an additional 3,200 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of ORIC Pharmaceuticals by 4.1% during the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after buying an additional 3,900 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $11.23 on Thursday. The company has a market capitalization of $792.50 million, a PE ratio of -6.24 and a beta of 1.21. The firm’s 50-day moving average is $9.41 and its two-hundred day moving average is $9.62. 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). Sell-side 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.