Guggenheim Reiterates “Buy” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports.

Several other research analysts have also commented on ORIC. JPMorgan Chase & Co. lifted their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and an average target price of $18.71.

ORIC Pharmaceuticals Trading Down 12.3 %

Shares of NASDAQ:ORIC opened at $9.85 on Monday. The company has a market cap of $695.11 million, a price-to-earnings ratio of -5.47 and a beta of 1.21. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The company has a 50-day moving average price of $9.43 and a 200 day moving average price of $9.62.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, equities analysts forecast that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jacob Chacko sold 24,660 shares of the company’s stock in a transaction dated 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 directly owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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. This trade represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock valued at $350,749 over the last quarter. 5.55% of the stock is owned by corporate insiders.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock worth $4,205,000 after acquiring an additional 247,863 shares in the last quarter. Barclays PLC raised its holdings in ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock worth $1,100,000 after purchasing an additional 56,474 shares in the last quarter. Franklin Resources Inc. raised its holdings in ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after purchasing an additional 196,804 shares in the last quarter. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Finally, SG Americas Securities LLC purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth approximately $714,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Company 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.