Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) PT at $18.29

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.29.

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

Insider Buying and Selling at ORIC Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 8,851 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the sale, the chief financial officer now directly owns 106,764 shares of the company’s stock, valued at $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction on Monday, December 16th. The shares were 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 in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 in the last 90 days. 5.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after buying an additional 3,188 shares during the last quarter. Quest Partners LLC grew 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 in the last quarter. Creative Planning bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at approximately $132,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in 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 worth $139,000 after purchasing an additional 5,646 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Price Performance

NASDAQ ORIC opened at $8.21 on Wednesday. The company has a market cap of $579.36 million, a P/E ratio of -4.56 and a beta of 1.13. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The company has a 50-day moving average of $9.24 and a 200-day moving average of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, equities research analysts anticipate that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

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.