ORIC Pharmaceuticals (NASDAQ:ORIC) Earns "Buy" Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC - Free Report) in a research report released on Monday,Benzinga reports.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. raised their price target on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an "overweight" rating in a research report on Thursday. HC Wainwright restated a "buy" rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Wedbush reiterated an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. 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 on the stock. 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, the company currently has a consensus rating of "Buy" and an average price target of $18.71.

ORIC Pharmaceuticals Stock Performance

ORIC traded down $1.02 during trading on Monday, reaching $11.23. 5,731,331 shares of the stock were exchanged, compared to its average volume of 1,061,202. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The stock's 50 day moving average price is $9.41 and its two-hundred day moving average price is $9.62. The stock has a market cap of $792.50 million, a P/E ratio of -6.24 and a beta of 1.21.

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

Insider Buying and Selling at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the sale, the chief executive officer now owns 778,648 shares of the company's stock, valued at $6,447,205.44. This represents a 3.07 % 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 over the last three months. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 152.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company's stock valued at $4,205,000 after buying an additional 247,863 shares during the last quarter. Barclays PLC boosted its holdings in shares of ORIC Pharmaceuticals by 111.2% during the 3rd 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 last quarter. Franklin Resources Inc. grew its stake in shares of ORIC Pharmaceuticals by 26.1% in the third quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock worth $9,067,000 after acquiring an additional 196,804 shares during the period. Creative Planning purchased a new position in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $116,000. Finally, SG Americas Securities LLC bought a new position in ORIC Pharmaceuticals during the third quarter valued at approximately $714,000. 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.