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

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 175.81% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday, February 10th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. increased their price target on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.71.

ORIC Pharmaceuticals Stock Up 1.9 %

Shares of NASDAQ ORIC traded up $0.14 during trading hours on Friday, hitting $7.61. The company had a trading volume of 345,557 shares, compared to its average volume of 1,238,393. The stock has a market capitalization of $540.80 million, a P/E ratio of -4.18 and a beta of 1.21. 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 $9.29 and its 200-day moving average is $9.50.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. On average, sell-side analysts predict that ORIC Pharmaceuticals will post -2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacob Chacko sold 24,660 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,361 shares of company stock worth $350,749 in the last 90 days. Company insiders own 5.55% of the company’s stock.

Institutional Trading of ORIC Pharmaceuticals

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in ORIC Pharmaceuticals by 152.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after buying an additional 247,863 shares in the last quarter. Barclays PLC boosted its stake in ORIC Pharmaceuticals by 111.2% in the third quarter. Barclays PLC now owns 107,261 shares of the company’s stock valued at $1,100,000 after buying an additional 56,474 shares in the last quarter. Franklin Resources Inc. boosted its stake in 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 buying an additional 196,804 shares in the last quarter. Creative Planning acquired a new stake in ORIC Pharmaceuticals in the third quarter valued at about $116,000. Finally, JPMorgan Chase & Co. boosted its stake in ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock valued at $361,000 after buying an additional 1,279 shares in the last quarter. 95.05% of the stock is 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.