ORIC Pharmaceuticals’ (ORIC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $21.00 price target on the stock.

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

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ ORIC opened at $8.27 on Tuesday. The company has a market capitalization of $583.61 million, a price-to-earnings ratio of -4.59 and a beta of 1.21. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65. The business has a 50-day moving average of $9.43 and a 200-day moving average of $9.60.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Research analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $204,184.80. Following the sale, the chief executive officer now directly owns 778,648 shares in the company, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,286.28. Following the sale, the chief financial officer now owns 106,764 shares in the company, valued at $884,005.92. The trade was a 7.66 % 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. 5.55% of the stock is currently owned by company insiders.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 247,863 shares in the last quarter. Franklin Resources Inc. grew its holdings in ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after buying an additional 196,804 shares in the last quarter. Sphera Funds Management LTD. bought a new position in ORIC Pharmaceuticals in the 3rd quarter worth approximately $1,316,000. Alkeon Capital Management LLC grew its holdings in ORIC Pharmaceuticals by 2.6% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock worth $40,017,000 after buying an additional 100,000 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its holdings in ORIC Pharmaceuticals by 6.4% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,354,508 shares of the company’s stock worth $13,884,000 after buying an additional 80,986 shares in the last quarter. 95.05% of the stock is currently 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.