Analysts Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Target Price at $18.29

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.29.

A number of analysts have recently issued reports on ORIC shares. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. Wells Fargo & Company assumed coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $20.00 price objective on the stock.

Insider Activity at ORIC Pharmaceuticals

In other news, insider Pratik S. Multani sold 8,850 shares of the company’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. This represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the sale, the chief financial officer now owns 106,764 shares in the company, valued at approximately $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,361 shares of company stock valued at $350,749. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in ORIC Pharmaceuticals by 4.1% in the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock worth $1,022,000 after purchasing an additional 3,900 shares during the period. Profund Advisors LLC grew its position in ORIC Pharmaceuticals by 23.6% in the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after buying an additional 4,175 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position 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 valued at $139,000 after buying an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC increased its stake in ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares during the period. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Trading Down 1.7 %

NASDAQ:ORIC opened at $8.19 on Wednesday. The firm’s fifty day simple moving average is $9.22 and its 200 day simple moving average is $9.34. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The firm has a market capitalization of $577.94 million, a price-to-earnings ratio of -4.55 and a beta of 1.13.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). On average, analysts predict that ORIC Pharmaceuticals will post -1.84 earnings per share for the current year.

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.