ORIC Pharmaceuticals’ (ORIC) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Monday,Benzinga reports.

Other equities analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine 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 target price of $18.71.

ORIC Pharmaceuticals Stock Down 4.1 %

NASDAQ:ORIC opened at $9.45 on Monday. The firm has a market cap of $666.89 million, a PE ratio of -5.25 and a beta of 1.21. The company’s 50-day moving average price is $9.43 and its two-hundred day moving average price is $9.60. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) 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 Transactions at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 approximately $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,286.28. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 in the last quarter. 5.55% of the stock is owned by company insiders.

Institutional Trading of ORIC Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew 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 valued at $361,000 after purchasing an additional 1,279 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $121,000 after purchasing an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after buying an additional 2,520 shares during the period. Swiss National Bank increased its position in shares of ORIC Pharmaceuticals by 5.4% in the 4th quarter. Swiss National Bank now owns 62,400 shares of the company’s stock valued at $504,000 after buying an additional 3,200 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in ORIC Pharmaceuticals by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after buying an additional 3,900 shares during the period. 95.05% of the stock is owned by institutional investors.

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.