ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Recommendation of “Buy” from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $18.29.

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. 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 target on the stock. Finally, Stifel Nicolaus initiated coverage on shares of ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock.

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 dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,286.28. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock worth $350,749 over the last three months. 5.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock valued at $9,067,000 after acquiring an additional 196,804 shares during the last quarter. Barclays PLC raised its position in shares of ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after purchasing an additional 56,474 shares during the period. Geode Capital Management LLC raised its position in shares of ORIC Pharmaceuticals by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company’s stock valued at $13,056,000 after purchasing an additional 50,821 shares during the period. M&T Bank Corp raised its position in shares of ORIC Pharmaceuticals by 19.2% in the third quarter. M&T Bank Corp now owns 85,137 shares of the company’s stock valued at $873,000 after purchasing an additional 13,711 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of ORIC Pharmaceuticals by 42.0% in the third quarter. Wellington Management Group LLP now owns 174,388 shares of the company’s stock valued at $1,787,000 after purchasing an additional 51,565 shares during the period. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $8.25 on Wednesday. The firm has a 50-day moving average of $9.35 and a 200-day moving average of $9.37. The company has a market cap of $582.18 million, a PE ratio of -4.58 and a beta of 1.13. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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, equities research analysts expect that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

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.