Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Moderate Buy” by Brokerages

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.6250.

ORIC has been the subject of a number of recent research reports. Oppenheimer cut their price target on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright cut their price objective on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Finally, LADENBURG THALM/SH SH started coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a “buy” rating and a $15.00 price objective for the company.

Insider Buying and Selling

In related news, Director Angie You acquired 26,597 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $9.39 per share, for a total transaction of $249,745.83. Following the purchase, the director owned 26,597 shares in the company, valued at $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 link. Also, CFO Dominic Piscitelli sold 32,466 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 of the company’s stock, valued at approximately $717,328.50. This trade represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $416,289. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in Oric Pharmaceuticals by 17,300.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after purchasing an additional 2,422 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after purchasing an additional 1,372 shares during the period. BNP Paribas Financial Markets bought a new position in Oric Pharmaceuticals in the 4th quarter worth approximately $71,000. Arizona State Retirement System bought a new position in Oric Pharmaceuticals in the 1st quarter worth approximately $56,000. Finally, Creative Planning bought a new position in Oric Pharmaceuticals in the 2nd quarter worth approximately $113,000. 95.05% of the stock is currently owned by institutional investors.

Oric Pharmaceuticals Stock Up 0.5%

Oric Pharmaceuticals stock opened at $9.74 on Monday. The business has a 50-day simple moving average of $10.30 and a two-hundred day simple moving average of $8.01. The company has a market cap of $945.95 million, a P/E ratio of -5.15 and a beta of 1.69. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.67.

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

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.