ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Consensus Rating of "Buy" by Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have earned an average rating of "Buy" from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.86.

Several equities research analysts have commented on ORIC shares. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Wedbush restated an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Finally, Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th.

Insider Buying and Selling at ORIC Pharmaceuticals

In other news, insider Pratik S. Multani sold 8,850 shares of the firm'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 completion of the transaction, the insider now directly owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 8,851 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,286.28. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 42,361 shares of company stock valued at $350,749 in the last quarter. 5.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter worth $50,000. BNP Paribas Financial Markets bought a new position in ORIC Pharmaceuticals in the fourth quarter valued at $71,000. 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 valued at $109,000 after purchasing an additional 2,520 shares in the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals during the third quarter worth about $116,000. Finally, Tower Research Capital LLC TRC lifted its stake in ORIC Pharmaceuticals by 1,048.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock worth $118,000 after purchasing an additional 13,384 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ ORIC traded down $0.39 during mid-day trading on Monday, reaching $7.64. 605,387 shares of the company's stock traded hands, compared to its average volume of 1,211,307. The business has a 50-day simple moving average of $9.26 and a 200 day simple moving average of $9.47. The stock has a market cap of $542.65 million, a P/E ratio of -4.20 and a beta of 1.21. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01. Equities research analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal 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.