ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $21.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 173.44% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company initiated 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. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday, February 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $18.71.
Check Out Our Latest Analysis on ORIC
ORIC Pharmaceuticals Trading Up 2.8 %
ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.01. As a group, analysts expect that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.
Insider Activity at ORIC Pharmaceuticals
In related news, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. The trade was a 15.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the transaction, the chief financial officer now owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 in the last three months. Company insiders own 5.55% of the company’s stock.
Hedge Funds Weigh In On ORIC Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in ORIC Pharmaceuticals by 3.8% during the third 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 period. China Universal Asset Management Co. Ltd. raised its position 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 during the period. Invesco Ltd. raised its position in ORIC Pharmaceuticals by 8.5% during the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock worth $193,000 after acquiring an additional 1,876 shares during the period. PNC Financial Services Group Inc. raised its position 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 during the period. Finally, Swiss National Bank raised its position in ORIC Pharmaceuticals by 5.4% during the fourth quarter. Swiss National Bank now owns 62,400 shares of the company’s stock worth $504,000 after acquiring an additional 3,200 shares during the period. 95.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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