ORIC Pharmaceuticals (NASDAQ:ORIC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Friday,Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock.

Several other research analysts have also recently issued reports on ORIC. 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 price target for the company. JPMorgan Chase & Co. increased their target price on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday, February 10th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.71.

ORIC Pharmaceuticals Trading Up 2.8 %

NASDAQ ORIC opened at $7.68 on Friday. The company has a 50-day moving average price of $9.27 and a two-hundred day moving average price of $9.50. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The stock has a market cap of $545.51 million, a price-to-earnings ratio of -4.22 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, equities research analysts expect that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Activity

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of the company’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 $73,286.28. Following the transaction, the chief financial officer now owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $73,278.00. Following the sale, the insider now owns 46,765 shares of the company’s stock, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently modified their holdings of ORIC. JPMorgan Chase & Co. lifted its holdings in shares of ORIC Pharmaceuticals by 3.8% during 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. China Universal Asset Management Co. Ltd. raised its holdings in 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 worth $121,000 after buying an additional 1,395 shares during the period. Invesco Ltd. lifted its stake in ORIC Pharmaceuticals by 8.5% during the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock valued at $193,000 after buying an additional 1,876 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after buying an additional 2,520 shares during the period. Finally, Swiss National Bank increased its position in shares of ORIC Pharmaceuticals by 5.4% in the fourth quarter. Swiss National Bank now owns 62,400 shares of the company’s stock worth $504,000 after acquiring an additional 3,200 shares in 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.