ORIC Pharmaceuticals (NASDAQ:ORIC) Issues Quarterly Earnings Results

ORIC Pharmaceuticals (NASDAQ:ORIC) posted its earnings results on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01, Zacks reports.

ORIC Pharmaceuticals Trading Up 1.1 %

NASDAQ:ORIC opened at $7.94 on Thursday. The stock has a fifty day moving average price of $9.31 and a 200 day moving average price of $9.51. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65.

Insider Activity at ORIC Pharmaceuticals

In related news, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now directly owns 46,765 shares in the company, valued at approximately $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the transaction, the chief executive officer now owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,361 shares of company stock worth $350,749. Company insiders own 5.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research report on Tuesday, February 11th. JPMorgan Chase & Co. raised their price target on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wedbush restated an “outperform” rating and set a $20.00 price target on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.71.

ORIC Pharmaceuticals Company Profile

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.