ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Buy Rating from HC Wainwright

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $21.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 154.55% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock traded up $0.29 on Monday, hitting $8.25. The stock had a trading volume of 205,339 shares, compared to its average volume of 691,567. The company’s 50 day moving average price is $9.01 and its 200-day moving average price is $9.42. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The firm has a market capitalization of $582.18 million, a P/E ratio of -4.58 and a beta of 1.18.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued 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). On average, equities analysts forecast that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 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 $73,286.28. Following the completion of the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at approximately $884,005.92. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pratik S. Multani sold 8,850 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 transaction of $73,278.00. Following the completion of the sale, 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. In the last ninety days, insiders have sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of ORIC Pharmaceuticals by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after purchasing an additional 1,279 shares during the last quarter. Victory Capital Management Inc. lifted 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 valued at $1,022,000 after buying an additional 3,900 shares during the period. Profund Advisors LLC lifted its stake in shares of ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after buying an additional 4,175 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after acquiring an additional 5,646 shares during the last quarter. Finally, Quest Partners LLC grew its stake in ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 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.