Guggenheim Reiterates “Buy” Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

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

A number of other research analysts have also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Finally, Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $18.71.

ORIC Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $12.25 on Monday. The business’s 50-day moving average is $9.41 and its two-hundred day moving average is $9.62. The firm has a market capitalization of $864.48 million, a PE ratio of -6.81 and a beta of 1.21. ORIC Pharmaceuticals has a 12 month low of $6.33 and a 12 month high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Tuesday, November 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Equities analysts anticipate that ORIC Pharmaceuticals will post -1.84 EPS for the current year.

Insider Activity at ORIC Pharmaceuticals

In other ORIC Pharmaceuticals news, insider Pratik S. Multani sold 8,850 shares of the business’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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Chacko sold 24,660 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $204,184.80. Following the sale, the chief executive officer now directly owns 778,648 shares in the company, valued at $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock valued at $350,749 over the last three months. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning acquired a new stake in shares of ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ORIC Pharmaceuticals in the third quarter valued at $132,000. PNC Financial Services Group Inc. lifted its stake in ORIC Pharmaceuticals by 22.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after buying an additional 2,520 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of ORIC Pharmaceuticals by 71.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after acquiring an additional 5,646 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of ORIC Pharmaceuticals during the third quarter worth about $200,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

ORIC Pharmaceuticals Company Profile

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.