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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given an average rating of “Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.17.

Several equities research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Oric Pharmaceuticals in a report on Monday, May 5th. Oppenheimer lowered their price objective on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 32,466 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the transaction, the chief financial officer owned 68,317 shares in the company, valued at approximately $717,328.50. This trade represents a 32.21% 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. Also, Director Angie You purchased 26,597 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the transaction, the director directly owned 26,597 shares of the company’s stock, valued at $249,745.83. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 40,000 shares of company stock worth $416,289 in the last quarter. Company insiders own 6.82% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Alkeon Capital Management LLC increased its position in shares of Oric Pharmaceuticals by 2.6% in the first quarter. Alkeon Capital Management LLC now owns 4,004,096 shares of the company’s stock worth $22,343,000 after purchasing an additional 100,000 shares during the period. Vanguard Group Inc. increased its position in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company’s stock worth $17,945,000 after purchasing an additional 12,098 shares during the period. Vivo Capital LLC increased its position in shares of Oric Pharmaceuticals by 62.8% in the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company’s stock worth $11,609,000 after purchasing an additional 802,632 shares during the period. Boxer Capital Management LLC bought a new position in shares of Oric Pharmaceuticals in the fourth quarter worth $13,982,000. Finally, NEA Management Company LLC increased its position in shares of Oric Pharmaceuticals by 4.4% in the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company’s stock worth $12,638,000 after purchasing an additional 66,081 shares during the period. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $10.77 on Friday. The business has a fifty day simple moving average of $7.70 and a two-hundred day simple moving average of $7.78. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.67. The company has a market capitalization of $917.82 million, a price-to-earnings ratio of -5.76 and a beta of 1.54.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, equities analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

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.