ORIC Pharmaceuticals’ (ORIC) “Buy” Rating Reaffirmed at HC Wainwright

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 87.00% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday. Finally, Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus price target of $18.71.

ORIC Pharmaceuticals Trading Down 8.3 %

ORIC opened at $11.23 on Tuesday. The stock has a 50-day moving average of $9.41 and a 200 day moving average of $9.62. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The firm has a market cap of $792.50 million, a P/E ratio of -6.24 and a beta of 1.21.

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

Insiders Place Their Bets

In related news, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock worth $350,749 in the last three months. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORIC. PNC Financial Services Group Inc. lifted its position in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after purchasing an additional 2,520 shares during the period. Creative Planning purchased a new stake in ORIC Pharmaceuticals during the third quarter worth $116,000. China Universal Asset Management Co. Ltd. boosted its position in ORIC Pharmaceuticals by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after acquiring an additional 1,395 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $132,000. Finally, Intech Investment Management LLC bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth $200,000. 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.