ORIC Pharmaceuticals’ (ORIC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report issued on Friday,Benzinga reports. The firm currently has a $21.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday, February 10th. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Finally, Wells Fargo & Company initiated coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.71.

ORIC Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ:ORIC opened at $7.68 on Friday. The stock has a market cap of $545.49 million, a PE ratio of -4.22 and a beta of 1.21. The stock’s fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $9.49. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. On average, sell-side analysts forecast that ORIC Pharmaceuticals will post -2.16 earnings per share for the current fiscal year.

Insider Activity at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of the firm’s 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the business’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 $204,184.80. Following the sale, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,361 shares of company stock worth $350,749. Company insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares during the period. Barclays PLC grew its stake in ORIC Pharmaceuticals by 111.2% during the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after acquiring an additional 56,474 shares in the last quarter. Franklin Resources Inc. increased its holdings in ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after acquiring an additional 196,804 shares during the period. Creative Planning bought a new stake in ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. Finally, JPMorgan Chase & Co. lifted its stake in ORIC Pharmaceuticals by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after purchasing an additional 1,279 shares in the last quarter. Hedge funds and other 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.