ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Recommendation of "Buy" from Analysts

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been given a consensus recommendation of "Buy" by 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 analysts that have updated their coverage on the stock in the last year is $19.17.

Several research firms have recently weighed in on ORIC. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, May 5th. Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, May 6th. Finally, Oppenheimer cut their price target on shares of ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th.

ORIC Pharmaceuticals Stock Up 3.0%

ORIC Pharmaceuticals stock traded up $0.28 on Wednesday, hitting $9.67. The company's stock had a trading volume of 814,754 shares, compared to its average volume of 773,618. ORIC Pharmaceuticals has a one year low of $3.90 and a one year high of $14.67. The firm has a market cap of $687.42 million, a P/E ratio of -5.31 and a beta of 1.49. The company has a fifty day moving average price of $6.04 and a 200-day moving average price of $7.71.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.09. Analysts anticipate that ORIC Pharmaceuticals will post -2.17 EPS for the current year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 2,600 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.01, for a total transaction of $26,026.00. Following the transaction, the chief financial officer now directly owns 104,164 shares in the company, valued at approximately $1,042,681.64. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 6,200 shares of company stock worth $62,056. Insiders own 6.82% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORIC. Invesco Ltd. lifted its stake in shares of ORIC Pharmaceuticals by 8.5% during the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company's stock valued at $193,000 after acquiring an additional 1,876 shares during the period. PNC Financial Services Group Inc. lifted its position 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ORIC Pharmaceuticals by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company's stock valued at $226,000 after purchasing an additional 3,131 shares during the period. Swiss National Bank boosted its stake in shares of ORIC Pharmaceuticals by 5.4% in the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock valued at $504,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of ORIC Pharmaceuticals by 4.6% during the 4th quarter. Rhumbline Advisers now owns 93,319 shares of the company's stock worth $753,000 after buying an additional 4,072 shares during the period. 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.