HC Wainwright Lowers Oric Pharmaceuticals (NASDAQ:ORIC) Price Target to $19.00

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective decreased by equities researchers at HC Wainwright from $22.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 96.69% from the company’s current price.

Several other equities analysts have also commented on ORIC. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. LADENBURG THALM/SH SH started coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a “buy” rating and a $15.00 target price on the stock. Oppenheimer dropped their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. Finally, Guggenheim reissued a “buy” rating and issued a $18.00 target price on shares of Oric Pharmaceuticals in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.63.

Oric Pharmaceuticals Trading Down 2.7%

Oric Pharmaceuticals stock opened at $9.66 on Thursday. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.67. The stock’s fifty day simple moving average is $10.30 and its 200-day simple moving average is $8.10. The firm has a market capitalization of $938.18 million, a P/E ratio of -5.11 and a beta of 1.69.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). Sell-side analysts predict that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, Director Angie You acquired 26,597 shares of the firm’s stock in a transaction 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 completion of the purchase, the director directly owned 26,597 shares of the company’s stock, valued at approximately $249,745.83. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total transaction of $340,893.00. Following the completion of the transaction, the chief financial officer owned 68,317 shares of the company’s stock, valued at $717,328.50. This represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $416,289 in the last 90 days. 6.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Oric Pharmaceuticals by 1,293.0% during the second quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company’s stock worth $119,000 after buying an additional 10,913 shares during the period. Eventide Asset Management LLC acquired a new stake in shares of Oric Pharmaceuticals during the second quarter worth about $9,657,000. BNP Paribas Financial Markets boosted its stake in shares of Oric Pharmaceuticals by 1,102.4% during the second quarter. BNP Paribas Financial Markets now owns 86,755 shares of the company’s stock worth $881,000 after buying an additional 79,540 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Oric Pharmaceuticals during the second quarter worth about $352,000. Finally, Bank of America Corp DE boosted its stake in shares of Oric Pharmaceuticals by 14.9% during the second quarter. Bank of America Corp DE now owns 298,442 shares of the company’s stock worth $3,029,000 after buying an additional 38,641 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

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.