ORIC Pharmaceuticals’ (ORIC) Overweight Rating Reiterated at Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report released on Tuesday,Benzinga reports.

ORIC has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Price Performance

ORIC stock opened at $10.87 on Tuesday. The firm has a 50 day simple moving average of $9.01 and a two-hundred day simple moving average of $9.46. The stock has a market cap of $767.06 million, a PE ratio of -6.04 and a beta of 1.18. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65.

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

Insider Buying and Selling

In other news, CEO Jacob Chacko sold 24,660 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dominic Piscitelli sold 8,851 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 $73,286.28. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock valued at $350,749 over the last ninety days. 5.55% of the stock is owned by insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of large investors have recently modified their holdings of ORIC. Quest Partners LLC lifted its holdings in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after buying an additional 7,440 shares during the period. Creative Planning bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at approximately $132,000. China Universal Asset Management Co. Ltd. boosted its position in shares of ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after purchasing an additional 5,646 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in ORIC Pharmaceuticals in the second quarter worth $153,000. 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.