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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given a consensus rating of “Buy” by the eight analysts that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.29.

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd.

ORIC Pharmaceuticals Price Performance

NASDAQ ORIC opened at $7.96 on Friday. The stock has a market capitalization of $561.71 million, a P/E ratio of -4.42 and a beta of 1.18. The firm’s 50-day moving average is $9.01 and its two-hundred day 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 issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, analysts anticipate that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Activity at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the sale, the chief financial officer now directly owns 106,764 shares of the company’s stock, valued at $884,005.92. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Chacko sold 24,660 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. 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 90 days. 5.55% of the stock is owned by corporate insiders.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in ORIC Pharmaceuticals by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after acquiring an additional 71,394 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of ORIC Pharmaceuticals by 53.7% during the second quarter. Rhumbline Advisers now owns 92,702 shares of the company’s stock worth $655,000 after purchasing an additional 32,402 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ORIC Pharmaceuticals by 8.3% during the second quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after purchasing an additional 7,310 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of ORIC Pharmaceuticals by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 84,201 shares of the company’s stock valued at $595,000 after purchasing an additional 11,034 shares during the period. 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.