ORIC Pharmaceuticals (NASDAQ:ORIC) Given “Overweight” Rating at Cantor Fitzgerald

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Tuesday,Benzinga reports.

A number of other analysts have also recently commented on the company. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Stock Up 10.6 %

Shares of ORIC Pharmaceuticals stock traded up $0.91 on Tuesday, reaching $9.51. 304,096 shares of the stock were exchanged, compared to its average volume of 692,748. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The firm has a market capitalization of $671.09 million, a price-to-earnings ratio of -5.28 and a beta of 1.18. The business has a 50 day moving average price of $9.00 and a two-hundred day moving average price of $9.43.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its earnings results 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 forecast that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Buying and Selling

In other ORIC Pharmaceuticals news, CFO Dominic Piscitelli sold 8,851 shares of the company’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 $73,286.28. Following the completion of the sale, the chief financial officer now directly owns 106,764 shares in the company, valued at $884,005.92. This represents a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the sale, the insider now owns 46,765 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of ORIC Pharmaceuticals by 152.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company’s stock valued at $4,205,000 after purchasing an additional 247,863 shares during the last quarter. Franklin Resources Inc. lifted its stake in ORIC Pharmaceuticals by 26.1% during the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company’s stock worth $9,067,000 after acquiring an additional 196,804 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in ORIC Pharmaceuticals by 62.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 186,484 shares of the company’s stock worth $1,318,000 after acquiring an additional 71,394 shares in the last quarter. Creative Planning acquired a new position in ORIC Pharmaceuticals during the 3rd quarter worth about $116,000. Finally, SG Americas Securities LLC acquired a new position in ORIC Pharmaceuticals during the 3rd quarter worth about $714,000. 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.