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

HC Wainwright restated their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a report issued on Tuesday morning,Benzinga reports. They currently have a $21.00 price objective on the stock.

ORIC has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $18.71.

ORIC Pharmaceuticals Stock Down 12.3 %

Shares of ORIC stock opened at $9.85 on Tuesday. The company’s fifty day simple moving average is $9.43 and its two-hundred day simple moving average is $9.62. The stock has a market cap of $695.11 million, a P/E ratio of -5.47 and a beta of 1.21. 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 earnings results 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). On average, analysts anticipate that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 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 $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the company’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 $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. This represents a 15.91 % 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.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at approximately $50,000. PNC Financial Services Group Inc. boosted its stake in shares of ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares in the last quarter. Creative Planning bought a new position in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $116,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $132,000. 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.