ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Recommendation of “Buy” from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $18.29.

Several research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target for the company. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Finally, Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th.

Insider Buying and Selling at ORIC Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 8,851 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,286.28. Following the transaction, the chief financial officer now owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. The trade was a 7.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacob Chacko sold 24,660 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. 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 three months. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals during the 3rd quarter valued at about $116,000. China Universal Asset Management Co. Ltd. boosted its position in shares of ORIC Pharmaceuticals by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after acquiring an additional 1,395 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ORIC Pharmaceuticals during the 3rd quarter valued at about $132,000. Intech Investment Management LLC acquired a new position in ORIC Pharmaceuticals in the third quarter valued at about $200,000. Finally, Squarepoint Ops LLC lifted its position in ORIC Pharmaceuticals by 95.6% in the second quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock valued at $240,000 after buying an additional 16,613 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

Shares of ORIC Pharmaceuticals stock opened at $12.39 on Thursday. The firm has a 50-day simple moving average of $9.31 and a two-hundred day simple moving average of $9.61. The company has a market cap of $874.36 million, a P/E ratio of -6.88 and a beta of 1.20. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Equities research analysts forecast 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.