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

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Rating) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of analysts have recently weighed in on ORIC shares. Zacks Investment Research lowered shares of ORIC Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th. Guggenheim lowered shares of ORIC Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 22nd. HC Wainwright lowered shares of ORIC Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Friday, March 25th. Oppenheimer lowered shares of ORIC Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 22nd. Finally, Citigroup raised shares of ORIC Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the stock from $7.00 to $10.00 in a research note on Monday, April 4th.

In other news, CFO Dominic Piscitelli purchased 60,000 shares of ORIC Pharmaceuticals stock in a transaction that occurred on Thursday, March 31st. The stock was acquired at an average price of $5.36 per share, for a total transaction of $321,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jacob Chacko purchased 257,127 shares of ORIC Pharmaceuticals stock in a transaction that occurred on Wednesday, March 23rd. The stock was purchased at an average price of $4.98 per share, with a total value of $1,280,492.46. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 367,127 shares of company stock valued at $1,829,092. 24.64% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new position in ORIC Pharmaceuticals in the 3rd quarter valued at approximately $28,000. Royal Bank of Canada increased its stake in ORIC Pharmaceuticals by 66.8% in the 3rd quarter. Royal Bank of Canada now owns 3,370 shares of the company’s stock valued at $70,000 after buying an additional 1,350 shares during the period. Ensign Peak Advisors Inc acquired a new position in ORIC Pharmaceuticals in the 4th quarter valued at approximately $152,000. Metropolitan Life Insurance Co NY increased its stake in shares of ORIC Pharmaceuticals by 17.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,546 shares of the company’s stock worth $179,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its stake in shares of ORIC Pharmaceuticals by 26.9% during the 4th quarter. Virtus ETF Advisers LLC now owns 13,677 shares of the company’s stock worth $201,000 after purchasing an additional 2,895 shares during the last quarter. Hedge funds and other institutional investors own 93.67% of the company’s stock.

NASDAQ ORIC opened at $4.50 on Friday. ORIC Pharmaceuticals has a 52 week low of $3.94 and a 52 week high of $26.70. The company has a 50-day moving average price of $6.77 and a two-hundred day moving average price of $11.93.

ORIC Pharmaceuticals (NASDAQ:ORIC – Get Rating) last posted its earnings results on Monday, March 21st. The company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). During the same quarter in the prior year, the firm posted ($0.84) earnings per share. As a group, equities analysts expect that ORIC Pharmaceuticals will post -2.61 earnings per share for the current year.

ORIC Pharmaceuticals Company Profile (Get Rating)

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for treatment of cancers. The company's product candidates include ORIC-533, an orally bioavailable small molecule inhibitor of CD73 being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens; ORIC-944, an allosteric inhibitor for prostate cancer; and ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations.

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