Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Rating) have been given an average rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $26.00.
Several research analysts have weighed in on the stock. Oppenheimer lowered shares of ORIC Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 22nd. Zacks Investment Research cut shares of ORIC Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. HC Wainwright cut shares of ORIC Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Friday, March 25th. Guggenheim cut shares of ORIC Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 22nd. Finally, Citigroup raised shares of ORIC Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Monday, April 4th.
Shares of ORIC opened at $3.88 on Friday. ORIC Pharmaceuticals has a 12-month low of $3.87 and a 12-month high of $26.70. The firm has a 50-day moving average price of $6.68 and a 200 day moving average price of $11.69. The firm has a market capitalization of $153.00 million, a P/E ratio of -1.87 and a beta of 2.19.
In related news, CFO Dominic Piscitelli acquired 60,000 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were bought at an average price of $5.36 per share, with a total value of $321,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Chacko acquired 257,127 shares of the business’s stock in a transaction on Wednesday, March 23rd. The shares were bought at an average cost of $4.98 per share, for a total transaction of $1,280,492.46. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 367,127 shares of company stock worth $1,829,092. 24.64% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Regents of The University of California acquired a new stake in ORIC Pharmaceuticals during the fourth quarter worth approximately $2,180,000. Jennison Associates LLC grew its position in shares of ORIC Pharmaceuticals by 0.3% during the third quarter. Jennison Associates LLC now owns 999,876 shares of the company’s stock worth $20,907,000 after acquiring an additional 2,931 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of ORIC Pharmaceuticals during the fourth quarter worth approximately $14,701,000. Credit Suisse AG grew its position in shares of ORIC Pharmaceuticals by 23.3% during the third quarter. Credit Suisse AG now owns 16,167 shares of the company’s stock worth $339,000 after acquiring an additional 3,057 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in shares of ORIC Pharmaceuticals during the third quarter worth approximately $306,000. 93.67% of the stock is currently owned by institutional investors.
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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