ORIC Pharmaceuticals (NASDAQ:ORIC) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC) in a research note published on Monday,RTT News reports. The firm currently has a $20.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.29.

ORIC Pharmaceuticals Trading Up 9.7 %

Shares of NASDAQ ORIC opened at $10.87 on Monday. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The business has a 50 day simple moving average of $9.01 and a 200-day simple moving average of $9.46.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Research analysts predict that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the business’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 $204,184.80. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the period. Creative Planning bought a new position in ORIC Pharmaceuticals during the third quarter valued at about $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ORIC Pharmaceuticals during the third quarter worth about $132,000. China Universal Asset Management Co. Ltd. raised its position in ORIC Pharmaceuticals by 71.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after acquiring an additional 5,646 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of ORIC Pharmaceuticals during the 2nd quarter valued at about $153,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Company Profile

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.