ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Recommendation of “Buy” by Analysts

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $41.50.

Several equities analysts recently issued reports on ORIC shares. raised ORIC Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, July 6th. Zacks Investment Research cut ORIC Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup raised ORIC Pharmaceuticals from a “neutral” rating to a “buy” rating in a report on Tuesday, July 6th. raised ORIC Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, July 6th. Finally, Robert W. Baird reissued a “buy” rating and set a $45.00 price target on shares of ORIC Pharmaceuticals in a research report on Sunday, June 6th.

In other news, CEO Jacob Chacko sold 3,736 shares of ORIC Pharmaceuticals stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $25.06, for a total value of $93,624.16. Following the completion of the sale, the chief executive officer now owns 6,388 shares of the company’s stock, valued at $160,083.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard A. Heyman sold 1,086 shares of ORIC Pharmaceuticals stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $25.11, for a total value of $27,269.46. Following the completion of the sale, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $313,875. The disclosure for this sale can be found here. Insiders have sold 17,252 shares of company stock valued at $432,628 in the last three months. 24.64% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in ORIC Pharmaceuticals by 18.8% during the second quarter. BlackRock Inc. now owns 2,270,310 shares of the company’s stock valued at $40,162,000 after acquiring an additional 359,957 shares during the period. Victory Capital Management Inc. grew its position in ORIC Pharmaceuticals by 18.0% during the second quarter. Victory Capital Management Inc. now owns 1,304,360 shares of the company’s stock valued at $23,074,000 after acquiring an additional 198,986 shares during the period. Point72 Asset Management L.P. purchased a new stake in ORIC Pharmaceuticals during the first quarter valued at about $31,498,000. Wells Fargo & Company MN grew its position in ORIC Pharmaceuticals by 3.1% during the second quarter. Wells Fargo & Company MN now owns 1,241,281 shares of the company’s stock valued at $21,958,000 after acquiring an additional 37,540 shares during the period. Finally, Jennison Associates LLC grew its position in ORIC Pharmaceuticals by 118.4% during the first quarter. Jennison Associates LLC now owns 1,143,479 shares of the company’s stock valued at $28,015,000 after acquiring an additional 619,999 shares during the period. 91.96% of the stock is owned by hedge funds and other institutional investors.

ORIC opened at $23.74 on Friday. The business has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $21.83. The stock has a market capitalization of $933.41 million, a P/E ratio of -8.79 and a beta of 2.91. ORIC Pharmaceuticals has a 12 month low of $15.67 and a 12 month high of $40.81.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, August 10th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.08). As a group, sell-side analysts expect that ORIC Pharmaceuticals will post -2.24 EPS for the current fiscal year.

About ORIC Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for treatment of cancers. The company's lead product candidate is ORIC-101, a small molecule antagonist of the glucocorticoid receptor, which has been linked to resistance to multiple classes of cancer therapeutics across various solid tumors.

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