ORIC Pharmaceuticals (NASDAQ:ORIC) Given “Overweight” Rating at Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other research firms have also issued reports on ORIC. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $18.29.

ORIC Pharmaceuticals Trading Up 10.6 %

ORIC Pharmaceuticals stock traded up $0.91 on Tuesday, hitting $9.51. 304,096 shares of the stock traded hands, compared to its average volume of 692,748. The firm has a market cap of $671.09 million, a P/E ratio of -5.28 and a beta of 1.18. The business’s fifty day simple moving average is $9.00 and its 200 day simple moving average is $9.43. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently made changes to their positions in ORIC. Quest Partners LLC grew its stake in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the last quarter. Creative Planning purchased a new position in ORIC Pharmaceuticals in the third quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ORIC Pharmaceuticals in the third quarter valued at about $132,000. China Universal Asset Management Co. Ltd. grew its stake 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 valued at $139,000 after purchasing an additional 5,646 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in ORIC Pharmaceuticals in the second quarter valued at about $153,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.