ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.29 Consensus Target Price from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $18.71.

A number of analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Finally, Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a report on Monday.

Insiders Place Their Bets

In other news, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals 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 transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. The trade was a 15.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals 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 owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,361 shares of company stock worth $350,749. Insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in ORIC Pharmaceuticals by 190.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock valued at $3,299,000 after buying an additional 305,860 shares during the last quarter. Squarepoint Ops LLC raised its position in ORIC Pharmaceuticals by 95.6% in the 2nd quarter. Squarepoint Ops LLC now owns 33,984 shares of the company’s stock valued at $240,000 after buying an additional 16,613 shares during the last quarter. Millennium Management LLC raised its position in ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after buying an additional 585,447 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in ORIC Pharmaceuticals by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock valued at $929,000 after buying an additional 9,424 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at approximately $714,000. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $9.45 on Thursday. The stock has a fifty day moving average price of $9.43 and a two-hundred day moving average price of $9.60. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The firm has a market capitalization of $666.89 million, a P/E ratio of -5.25 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). On average, equities research analysts predict that ORIC Pharmaceuticals will post -1.84 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.