ORIC Pharmaceuticals’ (ORIC) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note issued to investors on Tuesday,Benzinga reports.

A number of other analysts have also issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Stock Performance

ORIC Pharmaceuticals stock opened at $10.04 on Tuesday. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The firm has a market capitalization of $708.52 million, a price-to-earnings ratio of -5.58 and a beta of 1.18. The company has a 50 day moving average price of $9.01 and a 200 day moving average price of $9.46.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its 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). Equities analysts forecast that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insider Activity at ORIC Pharmaceuticals

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 sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in ORIC Pharmaceuticals by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after buying an additional 1,279 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 acquiring an additional 3,900 shares during the period. Profund Advisors LLC lifted its holdings 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 acquiring an additional 4,175 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after purchasing an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC grew 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 worth $73,000 after purchasing an additional 7,440 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.

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.