ORIC Pharmaceuticals (NASDAQ:ORIC) Announces Earnings Results

ORIC Pharmaceuticals (NASDAQ:ORIC) issued its quarterly earnings results on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01, Zacks reports.

ORIC Pharmaceuticals Stock Up 1.1 %

NASDAQ:ORIC opened at $7.94 on Thursday. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65. The stock has a 50 day moving average price of $9.31 and a 200 day moving average price of $9.51.

Insider Activity at ORIC Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 8,851 shares of the 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 completion of the sale, the chief financial officer now owns 106,764 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pratik S. Multani sold 8,850 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 $73,278.00. Following the sale, the insider now directly owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORIC. Guggenheim reiterated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday, February 10th. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, February 11th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.71.

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.