HC Wainwright Reaffirms “Buy” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 122.22% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday. JPMorgan Chase & Co. raised their price objective on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $18.71.

ORIC Pharmaceuticals Trading Down 4.1 %

Shares of NASDAQ ORIC opened at $9.45 on Tuesday. The firm has a market cap of $666.89 million, a P/E ratio of -5.25 and a beta of 1.21. The business’s 50 day moving average is $9.43 and its 200-day moving average is $9.60. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65.

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

Insider Buying and Selling at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of the business’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 $204,184.80. Following the completion of the transaction, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 106,764 shares in the company, valued at approximately $884,005.92. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock worth $4,205,000 after buying an additional 247,863 shares during the last quarter. Barclays PLC boosted its holdings in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after acquiring an additional 56,474 shares in the last quarter. Franklin Resources Inc. grew its position in ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after acquiring an additional 196,804 shares during the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals during the 3rd quarter worth $116,000. Finally, JPMorgan Chase & Co. raised its position in ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after purchasing an additional 1,279 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.