ORIC Pharmaceuticals’ (ORIC) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Tuesday,Benzinga reports.

ORIC has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Stock Down 7.6 %

NASDAQ:ORIC opened at $10.04 on Tuesday. The company has a market cap of $708.52 million, a PE ratio of -5.58 and a beta of 1.18. The business’s 50 day moving average is $9.01 and its two-hundred day moving average is $9.46. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, sell-side analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In related 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 value of $73,278.00. Following the completion of the sale, the insider now owns 46,765 shares of the company’s stock, valued at $387,214.20. This represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the firm’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 $73,286.28. Following the transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at approximately $884,005.92. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ORIC. Millennium Management LLC grew its stake in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after purchasing an additional 585,447 shares during the last quarter. Dimensional Fund Advisors LP grew its position in ORIC Pharmaceuticals by 190.2% in the second quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock worth $3,299,000 after buying an additional 305,860 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ORIC Pharmaceuticals by 152.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock worth $4,205,000 after buying an additional 247,863 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of 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 buying an additional 196,804 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at $1,316,000. 95.05% of the stock is currently owned by institutional investors.

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.