ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $19.17 Consensus Target Price from Brokerages

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.17.

Several research analysts recently issued reports on ORIC shares. Guggenheim reissued a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, May 5th. Wedbush reissued an "outperform" rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, May 29th. Finally, Oppenheimer dropped their price objective on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th.

ORIC Pharmaceuticals Stock Down 0.4%

NASDAQ:ORIC traded down $0.04 during midday trading on Wednesday, hitting $9.63. The stock had a trading volume of 714,124 shares, compared to its average volume of 775,451. ORIC Pharmaceuticals has a one year low of $3.90 and a one year high of $14.67. The company has a market capitalization of $820.71 million, a price-to-earnings ratio of -5.29 and a beta of 1.49. The stock has a 50-day moving average of $6.15 and a 200 day moving average of $7.69.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, sell-side analysts anticipate that ORIC Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Dominic Piscitelli sold 2,600 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.01, for a total transaction of $26,026.00. Following the completion of the sale, the chief financial officer now owns 104,164 shares in the company, valued at approximately $1,042,681.64. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 6,500 shares of company stock worth $65,056. Insiders own 6.82% of the company's stock.

Institutional Trading of ORIC Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its holdings in shares of ORIC Pharmaceuticals by 56.0% during the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company's stock valued at $174,000 after purchasing an additional 11,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ORIC Pharmaceuticals by 1,331.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company's stock worth $2,841,000 after acquiring an additional 473,600 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in ORIC Pharmaceuticals by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company's stock worth $1,645,000 after acquiring an additional 24,778 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new position in ORIC Pharmaceuticals in the 1st quarter worth $1,133,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ORIC Pharmaceuticals by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company's stock worth $226,000 after acquiring an additional 3,131 shares during the last quarter. Hedge funds and other institutional investors 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.