ORIC Pharmaceuticals (NASDAQ:ORIC) Receives "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC - Free Report) in a research note issued to investors on Tuesday,Benzinga reports.

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an "overweight" rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Monday. Finally, Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $18.29.

ORIC Pharmaceuticals Stock Up 15.2 %

Shares of NASDAQ ORIC traded up $1.31 during trading hours on Tuesday, hitting $9.91. 1,219,049 shares of the stock were exchanged, compared to its average volume of 809,781. The company has a market cap of $699.32 million, a PE ratio of -5.51 and a beta of 1.18. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65. The firm has a fifty day moving average price of $9.00 and a 200-day moving average price of $9.43.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). As a group, equities analysts anticipate that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dominic Piscitelli sold 8,851 shares of ORIC Pharmaceuticals 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of the business'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 of the company's stock, valued at approximately $6,447,205.44. This represents 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 valued at $350,749. Company insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Alkeon Capital Management LLC lifted its holdings in ORIC Pharmaceuticals by 2.6% during the third quarter. Alkeon Capital Management LLC now owns 3,904,096 shares of the company's stock valued at $40,017,000 after purchasing an additional 100,000 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of ORIC Pharmaceuticals by 6.4% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,354,508 shares of the company's stock worth $13,884,000 after purchasing an additional 80,986 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ORIC Pharmaceuticals by 4.2% during 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 during the last quarter. Franklin Resources Inc. lifted its position in shares of ORIC Pharmaceuticals by 26.1% in the third 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, Millennium Management LLC boosted its stake in shares of ORIC Pharmaceuticals by 297.4% in the second quarter. Millennium Management LLC now owns 782,299 shares of the company's stock worth $5,531,000 after acquiring an additional 585,447 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.