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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight analysts that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $18.29.

A number of research firms have issued reports on ORIC. Wedbush reiterated an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, November 12th. HC Wainwright reiterated a "buy" rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, November 4th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd.

Insider Activity at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of the firm'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 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jacob Chacko sold 24,660 shares of the firm'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 $204,184.80. Following the completion of the transaction, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by insiders.

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ORIC. Millennium Management LLC grew its position in ORIC Pharmaceuticals by 297.4% in the 2nd quarter. Millennium Management LLC now owns 782,299 shares of the company's stock worth $5,531,000 after purchasing an additional 585,447 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ORIC Pharmaceuticals by 190.2% during the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ORIC Pharmaceuticals by 152.7% during the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its position 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 valued at $9,067,000 after acquiring an additional 196,804 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter valued at about $1,316,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC traded down $0.54 during mid-day trading on Friday, hitting $7.96. The stock had a trading volume of 628,623 shares, compared to its average volume of 776,387. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The company has a market cap of $561.71 million, a PE ratio of -4.42 and a beta of 1.18. The company's 50 day moving average is $9.01 and its 200-day moving average is $9.40.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results 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). On average, equities research analysts predict that ORIC Pharmaceuticals will post -1.84 EPS 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.