ORIC Pharmaceuticals’ (ORIC) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report released on Wednesday,Benzinga reports.

Several other equities analysts also recently commented on ORIC. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price for the company. JPMorgan Chase & Co. increased their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals currently has an average rating of “Buy” and an average price target of $18.86.

ORIC Pharmaceuticals Stock Up 2.7 %

NASDAQ:ORIC opened at $8.30 on Wednesday. The stock’s 50-day simple moving average is $9.25 and its 200 day simple moving average is $9.49. The firm has a market capitalization of $589.52 million, a PE ratio of -4.56 and a beta of 1.20. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.01. On average, analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 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 $204,184.80. Following the completion of the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The sale 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 firm’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 $73,278.00. Following the transaction, the insider now owns 46,765 shares of the company’s stock, valued at $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,361 shares of company stock worth $350,749 over the last ninety days. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Creative Planning acquired a new stake in ORIC Pharmaceuticals during the third quarter worth approximately $116,000. China Universal Asset Management Co. Ltd. grew its stake in ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after purchasing an additional 5,646 shares during the period. Victory Capital Management Inc. grew its stake in ORIC Pharmaceuticals by 4.1% during 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. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ORIC Pharmaceuticals during the third quarter worth approximately $132,000. Finally, Intech Investment Management LLC acquired a new stake in ORIC Pharmaceuticals during the third quarter worth approximately $200,000. 95.05% of the stock is currently owned by institutional investors.

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.