Oric Pharmaceuticals’ (ORIC) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Monday,RTT News reports. Wedbush currently has a $20.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, July 8th. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Guggenheim began coverage on shares of Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Finally, Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.29.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC opened at $13.40 on Monday. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93. The company has a market capitalization of $1.30 billion, a P/E ratio of -7.09 and a beta of 1.68. The company has a 50-day simple moving average of $11.48 and a 200 day simple moving average of $9.40.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.01). As a group, equities analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the transaction, the chief executive officer directly owned 656,419 shares of the company’s stock, valued at approximately $7,089,325.20. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the transaction, the chief financial officer directly owned 48,317 shares in the company, valued at $701,562.84. This represents a 18.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,000 shares of company stock worth $3,024,703 over the last ninety days. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its holdings in shares of Oric Pharmaceuticals by 17,300.0% during the second 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 increased its stake in Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after acquiring an additional 1,372 shares during the last quarter. Arizona State Retirement System bought a new position in Oric Pharmaceuticals in the first quarter valued at approximately $56,000. KLP Kapitalforvaltning AS bought a new position in Oric Pharmaceuticals in the third quarter valued at approximately $85,000. Finally, Hsbc Holdings PLC bought a new position in Oric Pharmaceuticals in the first quarter valued at approximately $102,000. 95.05% of the stock is owned by institutional investors.

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.