Wedbush Reiterates “Outperform” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report)‘s stock had its “outperform” rating restated by Wedbush in a report released on Monday,RTT News reports. They presently have a $20.00 target price on the stock. Wedbush’s price objective suggests a potential upside of 101.82% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $18.29.

Get Our Latest Report on ORIC

ORIC Pharmaceuticals Stock Up 15.2 %

NASDAQ:ORIC opened at $9.91 on Monday. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The firm has a market capitalization of $699.32 million, a price-to-earnings ratio of -5.51 and a beta of 1.18. The stock’s 50 day moving average price is $9.00 and its two-hundred day moving average price is $9.45.

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

Insider Activity

In other ORIC Pharmaceuticals 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 transaction of $73,278.00. Following the transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were 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 directly owns 778,648 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of ORIC Pharmaceuticals by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company’s stock worth $361,000 after acquiring an additional 1,279 shares during the period. Victory Capital Management Inc. raised its position in ORIC Pharmaceuticals by 4.1% during the third quarter. Victory Capital Management Inc. now owns 99,750 shares of the company’s stock valued at $1,022,000 after purchasing an additional 3,900 shares in the last quarter. Profund Advisors LLC lifted its stake in ORIC Pharmaceuticals by 23.6% during the second quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock worth $155,000 after purchasing an additional 4,175 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 valued at $139,000 after purchasing an additional 5,646 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of ORIC Pharmaceuticals by 253.2% in the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after purchasing an additional 7,440 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

About ORIC Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for ORIC Pharmaceuticals (NASDAQ:ORIC)

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