ORIC Pharmaceuticals (NASDAQ:ORIC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01, Zacks reports.

ORIC Pharmaceuticals Trading Up 2.8 %

NASDAQ ORIC traded up $0.21 during trading on Friday, reaching $7.68. The company's stock had a trading volume of 1,057,188 shares, compared to its average volume of 1,589,839. The stock has a market capitalization of $545.51 million, a PE ratio of -4.22 and a beta of 1.21. The business has a 50-day moving average price of $9.27 and a 200-day moving average price of $9.49. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65.

Insider Buying and Selling at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 24,660 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 $204,184.80. Following the completion of the sale, the chief executive officer now directly owns 778,648 shares in the company, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pratik S. Multani sold 8,850 shares of the firm'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 $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,361 shares of company stock worth $350,749 over the last ninety days. 5.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ORIC. Wedbush restated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a report on Monday, February 10th. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $18.71.

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.