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

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.29.

A number of equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday. Finally, Wells Fargo & Company started coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price on the stock.

Insider Buying and Selling

In related news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals 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 transaction, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $73,278.00. Following the completion of the transaction, the insider now directly owns 46,765 shares in the company, valued at $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 90 days, insiders have sold 42,361 shares of company stock valued at $350,749. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ORIC. Millennium Management LLC lifted its position in shares of ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after acquiring an additional 585,447 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ORIC Pharmaceuticals by 190.2% during the second quarter. Dimensional Fund Advisors LP now owns 466,662 shares of the company’s stock valued at $3,299,000 after acquiring an additional 305,860 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 152.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after acquiring an additional 247,863 shares during the period. Franklin Resources Inc. increased its holdings in shares of ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after purchasing an additional 196,804 shares during the period. Finally, Sphera Funds Management LTD. bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter worth approximately $1,316,000. Institutional investors own 95.05% of the company’s stock.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock opened at $9.91 on Friday. The business’s fifty day moving average is $9.00 and its 200 day moving average is $9.45. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65. The stock has a market capitalization of $699.32 million, a PE ratio of -5.51 and a beta of 1.18.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, sell-side analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

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.