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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average rating of “Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.29.

Several equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday.

ORIC Pharmaceuticals Trading Up 15.2 %

ORIC stock opened at $9.91 on Friday. The business’s 50-day moving average price is $9.00 and its two-hundred day moving average price is $9.45. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65. The firm has a market cap of $699.32 million, a PE ratio of -5.51 and a beta of 1.18.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced 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). On average, analysts forecast that ORIC Pharmaceuticals will post -1.84 earnings per share for the current year.

Insider Transactions at ORIC Pharmaceuticals

In other news, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 1,279 shares in the last quarter. Victory Capital Management Inc. raised 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 purchasing an additional 3,900 shares in the last quarter. Profund Advisors LLC boosted its holdings in shares of ORIC Pharmaceuticals by 23.6% in 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of ORIC Pharmaceuticals by 71.3% during 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 during the period. Finally, Quest Partners LLC lifted its holdings in ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after acquiring an additional 7,440 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.