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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has received an average rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $18.86.

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

ORIC Pharmaceuticals Stock Up 2.4 %

Shares of ORIC Pharmaceuticals stock opened at $8.03 on Monday. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65. The firm has a market cap of $570.35 million, a PE ratio of -4.41 and a beta of 1.21. The business’s fifty day moving average is $9.26 and its two-hundred day moving average is $9.47.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results 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. Equities research analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current year.

Insider Activity at ORIC Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,286.28. Following the completion of the sale, the chief financial officer now directly owns 106,764 shares in the company, valued at approximately $884,005.92. This represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacob Chacko sold 24,660 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 value of $204,184.80. Following the completion of the sale, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of ORIC Pharmaceuticals by 54.5% during the fourth 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 in the last quarter. Two Sigma Advisers LP grew its stake in shares of ORIC Pharmaceuticals by 14.3% during the fourth 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 in the last quarter. Tema Etfs LLC acquired a new stake in shares of ORIC Pharmaceuticals during the fourth quarter valued at about $367,000. Sphera Funds Management LTD. grew its stake in shares of ORIC Pharmaceuticals by 112.8% during the fourth 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 in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of ORIC Pharmaceuticals by 30.9% during the fourth 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 in the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.