HC Wainwright Reiterates Buy Rating for ORIC Pharmaceuticals (NASDAQ:ORIC)

ORIC Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 122.22% from the company’s current price.

ORIC has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Monday. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Finally, 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.71.

ORIC Pharmaceuticals Stock Down 4.1 %

Shares of ORIC Pharmaceuticals stock opened at $9.45 on Tuesday. The stock has a market cap of $666.89 million, a price-to-earnings ratio of -5.25 and a beta of 1.21. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The company’s fifty day moving average is $9.43 and its 200 day moving average is $9.60.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly 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). As a group, equities analysts anticipate that ORIC Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Pratik S. Multani sold 8,850 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 value of $73,278.00. Following the transaction, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The sale 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 ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $204,184.80. Following the completion of the sale, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,361 shares of company stock worth $350,749. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ORIC. KLP Kapitalforvaltning AS bought a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth about $50,000. PNC Financial Services Group Inc. boosted its stake in ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after purchasing an additional 2,520 shares during the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. China Universal Asset Management Co. Ltd. raised its stake in shares of ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ORIC Pharmaceuticals in the third quarter valued at approximately $132,000. 95.05% of the stock is owned by institutional investors.

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.