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

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports.

Several other equities research analysts also recently weighed in on ORIC. JPMorgan Chase & Co. lifted their price target on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. 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 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals has an average rating of “Buy” and an average price target of $18.86.

ORIC Pharmaceuticals Price Performance

Shares of ORIC traded up $0.46 during midday trading on Wednesday, hitting $8.54. The stock had a trading volume of 974,747 shares, compared to its average volume of 1,219,214. The company has a 50 day simple moving average of $9.25 and a two-hundred day simple moving average of $9.49. The firm has a market cap of $606.57 million, a price-to-earnings ratio of -4.69 and a beta of 1.20. 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, February 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. Analysts forecast that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 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 $73,286.28. Following the completion of the transaction, the chief financial officer now owns 106,764 shares in the company, valued at $884,005.92. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the sale, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ORIC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ORIC Pharmaceuticals by 54.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,579 shares of the company’s stock worth $287,000 after acquiring an additional 12,545 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of ORIC Pharmaceuticals by 14.3% in the fourth quarter. Two Sigma Advisers LP now owns 66,500 shares of the company’s stock valued at $537,000 after purchasing an additional 8,300 shares during the period. Tema Etfs LLC acquired a new position in ORIC Pharmaceuticals in the 4th quarter valued at $367,000. Sphera Funds Management LTD. boosted its stake in ORIC Pharmaceuticals by 112.8% during the fourth quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock worth $2,205,000 after buying an additional 144,817 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in ORIC Pharmaceuticals by 30.9% in the fourth quarter. ProShare Advisors LLC now owns 20,683 shares of the company’s stock valued at $167,000 after acquiring an additional 4,881 shares during 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.