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

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

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

ORIC Pharmaceuticals Stock Down 12.3 %

NASDAQ:ORIC opened at $9.85 on Tuesday. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The firm has a 50 day moving average of $9.43 and a 200 day moving average of $9.62. The stock has a market capitalization of $695.11 million, a price-to-earnings ratio of -5.47 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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). As a group, analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction of $73,286.28. Following the sale, the chief financial officer now owns 106,764 shares in the company, valued at approximately $884,005.92. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pratik S. Multani sold 8,850 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 transaction of $73,278.00. Following the sale, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock valued at $350,749 over the last 90 days. Insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in ORIC Pharmaceuticals by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,203,789 shares of the company’s stock valued at $25,855,000 after buying an additional 36,478 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of ORIC Pharmaceuticals in the fourth quarter valued at about $50,000. American Century Companies Inc. grew its position in shares of ORIC Pharmaceuticals by 8.4% in the fourth quarter. American Century Companies Inc. now owns 107,862 shares of the company’s stock valued at $870,000 after purchasing an additional 8,359 shares during the period. Swiss National Bank grew 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 valued at $504,000 after purchasing an additional 3,200 shares during the period. Finally, AlphaQuest LLC grew its position in shares of ORIC Pharmaceuticals by 2,597.8% in the fourth quarter. AlphaQuest LLC now owns 28,435 shares of the company’s stock valued at $229,000 after purchasing an additional 27,381 shares during the period. 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.