ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.29 Average PT from Brokerages

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.29.

A number of equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Stifel Nicolaus started coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price on the stock.

ORIC Pharmaceuticals Stock Down 1.7 %

Shares of ORIC Pharmaceuticals stock opened at $8.19 on Wednesday. The business has a fifty day simple moving average of $9.22 and a 200-day simple moving average of $9.34. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The firm has a market cap of $577.94 million, a price-to-earnings ratio of -4.55 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Analysts anticipate that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of the transaction, the insider now 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. Insiders sold 42,361 shares of company stock valued at $350,749 over the last ninety days. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after buying an additional 3,188 shares in the last quarter. Quest Partners LLC lifted its position 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 acquiring an additional 7,440 shares during the period. Creative Planning acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of ORIC Pharmaceuticals by 71.3% in the third 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. 95.05% of the stock is owned by institutional investors.

About ORIC Pharmaceuticals

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.