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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.29.

ORIC has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Monday. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday.

Insider Activity at ORIC Pharmaceuticals

In other news, insider Pratik S. Multani sold 8,850 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 transaction of $73,278.00. Following the sale, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 106,764 shares of the company’s stock, valued at $884,005.92. The trade was 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 three months. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC increased its holdings in ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after acquiring an additional 7,440 shares in the last quarter. Creative Planning purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $132,000. China Universal Asset Management Co. Ltd. boosted its holdings in ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after buying an additional 5,646 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in ORIC Pharmaceuticals in the 2nd quarter worth about $153,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Down 7.6 %

NASDAQ ORIC opened at $10.04 on Friday. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The company has a fifty day simple moving average of $9.01 and a two-hundred day simple moving average of $9.46. The stock has a market cap of $708.52 million, a P/E ratio of -5.58 and a beta of 1.18.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.84 earnings per share for the current 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.