ORIC Pharmaceuticals’ (ORIC) Buy Rating Reaffirmed at Guggenheim

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a research report issued on Monday,Benzinga reports.

ORIC has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company began coverage on shares of ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.71.

ORIC Pharmaceuticals Trading Down 2.3 %

ORIC Pharmaceuticals stock opened at $12.25 on Monday. ORIC Pharmaceuticals has a 52 week low of $6.33 and a 52 week high of $16.65. The stock has a market cap of $864.48 million, a price-to-earnings ratio of -6.81 and a beta of 1.21. The company’s 50-day moving average price is $9.41 and its two-hundred day moving average price is $9.62.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Research analysts expect that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insider Activity at ORIC Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 8,851 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 directly owns 106,764 shares of the company’s stock, valued at approximately $884,005.92. This represents a 7.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the sale, the insider now owns 46,765 shares of the company’s stock, 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. In the last 90 days, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORIC. The Manufacturers Life Insurance Company boosted its stake in shares of ORIC Pharmaceuticals by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock valued at $929,000 after buying an additional 9,424 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter worth $714,000. Creative Planning acquired a new stake in ORIC Pharmaceuticals during the third quarter valued at $116,000. Hennion & Walsh Asset Management Inc. grew its stake in ORIC Pharmaceuticals by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 137,962 shares of the company’s stock valued at $1,414,000 after purchasing an additional 35,528 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after purchasing an additional 5,646 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.