ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $21.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 144.19% from the company's current price.
Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an "overweight" rating and a $20.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals has an average rating of "Buy" and an average target price of $18.29.
Check Out Our Latest Analysis on ORIC
ORIC Pharmaceuticals Price Performance
ORIC Pharmaceuticals stock traded up $0.64 during mid-day trading on Monday, reaching $8.60. 600,969 shares of the company traded hands, compared to its average volume of 751,324. The firm's fifty day moving average is $9.00 and its two-hundred day moving average is $9.43. The company has a market capitalization of $606.88 million, a price-to-earnings ratio of -4.78 and a beta of 1.18. 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 earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, equities research analysts predict that ORIC Pharmaceuticals will post -1.84 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Dominic Piscitelli sold 8,851 shares of the business'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 value of $73,286.28. Following the completion of the sale, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacob Chacko sold 24,660 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 value of $204,184.80. Following the transaction, the chief executive officer now directly owns 778,648 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 42,361 shares of company stock valued at $350,749. Corporate insiders own 5.55% of the company's stock.
Hedge Funds Weigh In On ORIC Pharmaceuticals
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its position in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company's stock worth $73,000 after purchasing an additional 7,440 shares during the last quarter. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ORIC Pharmaceuticals in the third quarter valued at approximately $132,000. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 5,646 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of ORIC Pharmaceuticals in the second quarter worth approximately $153,000. 95.05% of the stock is owned by hedge funds and other institutional investors.
About ORIC Pharmaceuticals
(
Get Free Report)
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.
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