Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.29

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.71.

A number of research firms recently commented on ORIC. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Guggenheim reaffirmed a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday. Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday.

Insider Activity

In related news, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was 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 trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now directly owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ORIC. KLP Kapitalforvaltning AS bought a new position in ORIC Pharmaceuticals in the fourth quarter worth $50,000. PNC Financial Services Group Inc. raised its stake in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. Creative Planning acquired a new position in ORIC Pharmaceuticals during the third quarter worth $116,000. China Universal Asset Management Co. Ltd. raised its stake in 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 worth $121,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in ORIC Pharmaceuticals during the third quarter worth $132,000. 95.05% of the stock is owned by institutional investors.

ORIC Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $9.45 on Thursday. The stock’s 50 day moving average price is $9.43 and its 200 day moving average price is $9.60. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The company 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 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, sell-side analysts forecast that ORIC Pharmaceuticals will post -1.84 earnings per share 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.