ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note issued to investors on Wednesday,Benzinga reports.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Finally, Wedbush reiterated an “outperform” rating and set 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.86.

ORIC Pharmaceuticals Stock Up 2.4 %

Shares of ORIC opened at $8.03 on Wednesday. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The firm’s fifty day moving average is $9.27 and its two-hundred day moving average is $9.47. The stock has a market cap of $570.35 million, a PE ratio of -4.41 and a beta of 1.20.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, research analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of the business’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 $73,278.00. Following the sale, the insider now directly owns 46,765 shares in the company, valued at approximately $387,214.20. The trade was a 15.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Chacko sold 24,660 shares of the business’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 $204,184.80. Following the completion of the sale, the chief executive officer now owns 778,648 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 42,361 shares of company stock worth $350,749. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in ORIC Pharmaceuticals in the 4th quarter valued at about $50,000. BNP Paribas Financial Markets acquired a new position in ORIC Pharmaceuticals in the 4th quarter valued at about $71,000. Creative Planning acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $132,000. Finally, PNC Financial Services Group Inc. grew its position in ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.