ORIC Pharmaceuticals (NASDAQ:ORIC) Given Buy Rating at Guggenheim

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports.

Several other equities research analysts have also recently weighed in on ORIC. JPMorgan Chase & Co. upped their price target 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. Wells Fargo & Company started 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $18.86.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $7.84 on Wednesday. The stock has a market cap of $556.85 million, a price-to-earnings ratio of -4.31 and a beta of 1.20. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The firm has a 50-day moving average of $9.27 and a two-hundred day moving average of $9.48.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.01. Research analysts expect that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 8,851 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 $73,286.28. Following the sale, the chief financial officer now owns 106,764 shares in the company, valued at $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock worth $350,749 over the last 90 days. 5.55% of the stock is currently owned by company insiders.

Institutional Trading of ORIC Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in ORIC Pharmaceuticals by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after buying an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings 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 valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ORIC Pharmaceuticals by 8.5% in the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock worth $193,000 after buying an additional 1,876 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 in the last quarter. Finally, Swiss National Bank lifted its stake 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 buying an additional 3,200 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.