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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $18.29.

A number of analysts have issued reports on the company. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wells Fargo & Company started 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 for the company.

Insider Activity at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 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 value 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 approximately $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,361 shares of company stock valued at $350,749. Insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC lifted its stake in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares during the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals in the third quarter valued at $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ORIC Pharmaceuticals during the third quarter valued at $132,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of ORIC Pharmaceuticals by 71.3% during 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 during the last quarter. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Stock Performance

ORIC stock opened at $8.21 on Wednesday. The stock’s 50 day moving average price is $9.24 and its 200 day moving average price is $9.34. The firm has a market cap of $579.36 million, a P/E ratio of -4.56 and a beta of 1.13. ORIC Pharmaceuticals has a 1 year low of $6.33 and a 1 year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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). On average, research analysts predict that ORIC Pharmaceuticals will post -1.84 earnings per share for the current 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.