ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Buy” by Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.86.

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th.

Insider Activity at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of the 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 completion of the transaction, the insider now owns 46,765 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the transaction, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at $6,447,205.44. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,361 shares of company stock valued at $350,749. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Alkeon Capital Management LLC raised its stake in ORIC Pharmaceuticals by 2.6% during the third quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company’s stock valued at $40,017,000 after buying an additional 100,000 shares in the last quarter. Vanguard Group Inc. raised its stake in ORIC Pharmaceuticals by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,203,789 shares of the company’s stock valued at $25,855,000 after buying an additional 36,478 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in ORIC Pharmaceuticals during the fourth quarter valued at approximately $13,982,000. NEA Management Company LLC raised its stake in ORIC Pharmaceuticals by 4.4% during the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company’s stock valued at $12,638,000 after buying an additional 66,081 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in ORIC Pharmaceuticals by 37.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company’s stock valued at $12,551,000 after buying an additional 424,194 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Trading Up 1.9 %

ORIC stock opened at $8.00 on Monday. The stock has a 50-day moving average price of $9.22 and a two-hundred day moving average price of $9.39. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.37. The company has a market cap of $568.22 million, a PE ratio of -4.40 and a beta of 1.25.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. Equities analysts forecast that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal 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.