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

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

ORIC has been the subject of a number of other research reports. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $18.71.

ORIC Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ:ORIC opened at $7.68 on Friday. The firm has a 50 day moving average of $9.27 and a 200-day moving average of $9.49. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The stock has a market capitalization of $545.49 million, a PE ratio of -4.22 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. On average, research analysts predict that ORIC Pharmaceuticals will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 completion of the transaction, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the sale, the insider now owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock worth $350,749 in the last ninety days. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in ORIC Pharmaceuticals during the fourth quarter worth approximately $50,000. BNP Paribas Financial Markets bought a new position in shares of ORIC Pharmaceuticals during the 4th quarter worth about $71,000. Creative Planning acquired a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at about $132,000. Finally, PNC Financial Services Group Inc. raised its stake in ORIC Pharmaceuticals by 22.9% during the 4th 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. Institutional investors own 95.05% of the company’s stock.

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.