ORIC Pharmaceuticals (NASDAQ:ORIC) Receives Buy Rating from Guggenheim

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reiterated by analysts at Guggenheim in a report issued on Monday,Benzinga reports.

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

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $9.85 on Monday. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The company has a market cap of $695.11 million, a PE ratio of -5.47 and a beta of 1.21. The business has a 50-day simple moving average of $9.43 and a two-hundred day simple moving average of $9.62.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). On average, sell-side analysts predict that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insider Buying and Selling at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 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 value of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,361 shares of company stock valued at $350,749. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new stake in ORIC Pharmaceuticals in the 4th quarter valued at $50,000. PNC Financial Services Group Inc. boosted its position in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares during the last quarter. Creative Planning purchased a new stake in shares of ORIC Pharmaceuticals in the third quarter valued at about $116,000. China Universal Asset Management Co. Ltd. increased its position in ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in ORIC Pharmaceuticals during the third quarter worth about $132,000. Institutional investors and hedge funds 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.