ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $18.29 Consensus Price Target from Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have been given a consensus rating of "Buy" by the eight analysts that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.71.

ORIC has been the subject of a number of research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday. Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Finally, Wells Fargo & Company initiated coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price objective for the company.

Insider Activity at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 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 transaction of $204,184.80. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dominic Piscitelli sold 8,851 shares of ORIC Pharmaceuticals stock in a transaction dated 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 of the company's stock, valued at $884,005.92. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,361 shares of company stock worth $350,749. Insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Alkeon Capital Management LLC lifted its holdings in ORIC Pharmaceuticals by 2.6% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company's stock worth $40,017,000 after purchasing an additional 100,000 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of ORIC Pharmaceuticals by 6.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,354,508 shares of the company's stock worth $13,884,000 after buying an additional 80,986 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ORIC Pharmaceuticals by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,273,513 shares of the company's stock valued at $13,056,000 after acquiring an additional 50,821 shares in the last quarter. Franklin Resources Inc. increased its position in ORIC Pharmaceuticals by 26.1% during 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. Finally, Millennium Management LLC raised its stake 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 in the last quarter. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Stock Performance

ORIC traded down $0.29 during trading on Thursday, reaching $12.25. The company had a trading volume of 882,467 shares, compared to its average volume of 847,570. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The business's fifty day moving average price is $9.41 and its 200 day moving average price is $9.64.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.01). On average, analysts forecast 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.