ORIC Pharmaceuticals’ (ORIC) Buy Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note published on Monday,Benzinga reports.

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

ORIC Pharmaceuticals Price Performance

Shares of ORIC stock opened at $9.45 on Monday. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The stock’s 50-day moving average is $9.43 and its two-hundred day moving average is $9.60. The firm has a market cap of $666.89 million, a P/E ratio of -5.25 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, research analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Activity at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 shares of the company’s 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the sale, the chief financial officer now directly owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 in the last 90 days. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after acquiring an additional 247,863 shares during the period. Barclays PLC grew its holdings in shares of ORIC Pharmaceuticals by 111.2% during the 3rd quarter. Barclays PLC now owns 107,261 shares of the company’s stock worth $1,100,000 after purchasing an additional 56,474 shares in the last quarter. Franklin Resources Inc. increased its position in shares of ORIC Pharmaceuticals by 26.1% during the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock valued at $9,067,000 after purchasing an additional 196,804 shares during the period. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals in the third quarter valued at $116,000. Finally, SG Americas Securities LLC bought a new position in ORIC Pharmaceuticals in the third quarter worth $714,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.