Guggenheim Reaffirms Buy Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by Guggenheim in a report released on Wednesday,Benzinga reports.

A number of other equities research analysts have also recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company initiated coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.86.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ ORIC opened at $7.84 on Wednesday. The stock has a market capitalization of $556.85 million, a P/E ratio of -4.31 and a beta of 1.20. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65. The company’s 50-day moving average is $9.27 and its 200 day moving average is $9.48.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Research analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares in the company, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by corporate insiders.

Institutional Trading of ORIC Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ORIC Pharmaceuticals by 54.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,579 shares of the company’s stock valued at $287,000 after acquiring an additional 12,545 shares during the last quarter. Two Sigma Advisers LP increased its holdings in ORIC Pharmaceuticals by 14.3% in the 4th quarter. Two Sigma Advisers LP now owns 66,500 shares of the company’s stock valued at $537,000 after acquiring an additional 8,300 shares during the last quarter. Tema Etfs LLC bought a new stake in ORIC Pharmaceuticals in the 4th quarter valued at $367,000. Sphera Funds Management LTD. increased its holdings in ORIC Pharmaceuticals by 112.8% in the 4th quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock valued at $2,205,000 after acquiring an additional 144,817 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in ORIC Pharmaceuticals by 30.9% in the 4th quarter. ProShare Advisors LLC now owns 20,683 shares of the company’s stock valued at $167,000 after acquiring an additional 4,881 shares during the last quarter. 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.