ORIC Pharmaceuticals (NASDAQ:ORIC) Receives “Buy” Rating from Guggenheim

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report issued on Wednesday,Benzinga reports.

A number of other equities analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Friday, February 21st. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of “Buy” and an average price target of $18.86.

ORIC Pharmaceuticals Price Performance

Shares of ORIC traded up $0.46 during mid-day trading on Wednesday, hitting $8.54. The stock had a trading volume of 974,747 shares, compared to its average volume of 1,219,214. The firm has a market cap of $606.57 million, a P/E ratio of -4.69 and a beta of 1.20. The business has a fifty day moving average price of $9.25 and a 200-day moving average price of $9.49. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. As a group, research analysts expect that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pratik S. Multani sold 8,850 shares of the business’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 transaction, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,361 shares of company stock valued at $350,749 over the last 90 days. 5.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ORIC. Charles Schwab Investment Management Inc. raised its position in shares of ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after purchasing an additional 247,863 shares in the last quarter. Barclays PLC raised its holdings in shares of ORIC Pharmaceuticals by 111.2% during the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after acquiring an additional 56,474 shares during the period. Franklin Resources Inc. grew its position in 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 in the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals in the third quarter worth approximately $116,000. Finally, JPMorgan Chase & Co. lifted its position in ORIC Pharmaceuticals by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after acquiring an additional 1,279 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.