Brokerages Set ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $18.29

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $18.29.

Several research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, November 12th. HC Wainwright restated a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a "buy" rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd.

Insider Activity

In related news, CFO Dominic Piscitelli sold 8,851 shares of the company'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 transaction of $73,286.28. Following the sale, the chief financial officer now directly owns 106,764 shares in the company, valued at approximately $884,005.92. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $73,278.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company's stock worth $36,000 after purchasing an additional 3,188 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in ORIC Pharmaceuticals by 4.1% during the 3rd quarter. Victory Capital Management Inc. now owns 99,750 shares of the company's stock worth $1,022,000 after buying an additional 3,900 shares during the last quarter. Profund Advisors LLC boosted its position in shares of ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company's stock worth $155,000 after acquiring an additional 4,175 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in ORIC Pharmaceuticals by 71.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company's stock valued at $139,000 after purchasing an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC increased its stake in ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company's stock valued at $73,000 after purchasing an additional 7,440 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

ORIC Pharmaceuticals Stock Down 6.9 %

Shares of ORIC Pharmaceuticals stock traded down $0.57 during mid-day trading on Wednesday, reaching $7.68. 353,985 shares of the stock traded hands, compared to its average volume of 500,365. The business has a 50-day moving average of $9.33 and a 200 day moving average of $9.36. The stock has a market capitalization of $541.95 million, a PE ratio of -4.27 and a beta of 1.13. ORIC Pharmaceuticals has a fifty-two week low of $6.33 and a fifty-two week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.01). On average, equities research analysts expect that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

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.