ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of “Buy” from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have received a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.29.

ORIC has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Finally, 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 target price on the stock.

ORIC Pharmaceuticals Trading Down 4.6 %

Shares of NASDAQ:ORIC opened at $9.58 on Friday. The firm’s 50 day moving average price is $9.00 and its 200-day moving average price is $9.49. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65.

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

Insider Transactions at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of ORIC Pharmaceuticals stock in a transaction that occurred 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 sale, the chief financial officer now owns 106,764 shares of the company’s stock, valued at $884,005.92. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 46,765 shares of the company’s stock, valued at $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ORIC. Bank of New York Mellon Corp grew its stake in shares of ORIC Pharmaceuticals by 62.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after buying an additional 71,394 shares in the last quarter. Rhumbline Advisers increased its stake in ORIC Pharmaceuticals by 53.7% during the second quarter. Rhumbline Advisers now owns 92,702 shares of the company’s stock worth $655,000 after acquiring an additional 32,402 shares during the last quarter. Victory Capital Management Inc. increased its stake in ORIC Pharmaceuticals by 8.3% during the second quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after acquiring an additional 7,310 shares during the last quarter. Quest Partners LLC raised its position in ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of ORIC Pharmaceuticals by 15.1% in the 2nd quarter. American Century Companies Inc. now owns 84,201 shares of the company’s stock valued at $595,000 after purchasing an additional 11,034 shares during the last quarter. Hedge funds and other institutional investors 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.