HC Wainwright Reaffirms "Buy" Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright's price objective points to a potential upside of 153.50% from the company's previous close.

Other equities research analysts have also issued reports about the company. Wedbush restated an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an "overweight" rating and a $20.00 price objective for the company. Finally, Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Monday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $18.71.

ORIC Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC traded up $0.01 during midday trading on Tuesday, hitting $8.28. 2,271,624 shares of the stock traded hands, compared to its average volume of 1,219,231. The firm has a 50-day moving average of $9.43 and a two-hundred day moving average of $9.60. The firm has a market capitalization of $584.60 million, a P/E ratio of -4.54 and a beta of 1.21. ORIC Pharmaceuticals has a one year low of $6.33 and a one year high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Equities analysts forecast that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,286.28. Following the completion of the transaction, the chief financial officer now owns 106,764 shares of the company's stock, valued at $884,005.92. This represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of the 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 transaction, the chief executive officer now directly owns 778,648 shares of the company's stock, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $50,000. PNC Financial Services Group Inc. lifted its holdings in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after acquiring an additional 2,520 shares during the last quarter. Creative Planning bought a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at about $116,000. Tower Research Capital LLC TRC lifted its holdings in shares of ORIC Pharmaceuticals by 1,048.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock valued at $118,000 after acquiring an additional 13,384 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of ORIC Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock valued at $121,000 after acquiring an additional 1,395 shares during the last quarter. Institutional investors own 95.05% of the company's stock.

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.