ORIC Pharmaceuticals' (ORIC) "Buy" Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of ORIC Pharmaceuticals (NASDAQ:ORIC - Free Report) in a report published on Wednesday morning,Benzinga reports.

A number of other equities analysts also recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Friday, February 21st. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an "overweight" rating and a $20.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $18.86.

ORIC Pharmaceuticals Stock Up 2.4 %

Shares of NASDAQ ORIC traded up $0.19 during trading hours on Wednesday, hitting $8.03. The company had a trading volume of 664,789 shares, compared to its average volume of 1,226,417. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65. The firm's 50 day moving average is $9.26 and its 200-day moving average is $9.47. The stock has a market capitalization of $570.35 million, a P/E ratio of -4.41 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01. On average, sell-side analysts predict that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of the business's stock in a transaction dated Monday, December 16th. The shares were 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 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 SEC, which is available at the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. The trade was a 15.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ORIC. KLP Kapitalforvaltning AS acquired a new stake in ORIC Pharmaceuticals during the fourth quarter worth about $50,000. BNP Paribas Financial Markets bought a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth approximately $71,000. PNC Financial Services Group Inc. boosted its position in shares of ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after acquiring an additional 2,520 shares in the last quarter. Creative Planning bought a new position in ORIC Pharmaceuticals in the third quarter valued at approximately $116,000. Finally, Tower Research Capital LLC TRC raised its position in ORIC Pharmaceuticals by 1,048.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company's stock valued at $118,000 after purchasing an additional 13,384 shares in the last quarter. Institutional investors and hedge funds 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.