Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of “Moderate Buy” from Analysts

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.8333.

A number of analysts have weighed in on ORIC shares. Guggenheim initiated coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Research raised shares of Oric Pharmaceuticals to a “hold” rating in a report on Tuesday, August 12th. HC Wainwright cut their price target on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th.

Oric Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $12.35 on Friday. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The business’s fifty day moving average is $12.01 and its two-hundred day moving average is $9.87. The stock has a market capitalization of $1.20 billion, a P/E ratio of -6.53 and a beta of 1.66.

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

Insider Activity

In related news, CFO Dominic Piscitelli sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the transaction, the chief financial officer owned 48,317 shares in the company, valued at $701,562.84. The trade was a 18.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Chacko sold 125,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $10.80, for a total value of $1,350,000.00. Following the transaction, the chief executive officer directly owned 656,419 shares in the company, valued at approximately $7,089,325.20. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 261,000 shares of company stock worth $3,024,703. 6.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in Oric Pharmaceuticals by 17,300.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 2,422 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Oric Pharmaceuticals during the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Oric Pharmaceuticals by 36.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares during the period. ANTIPODES PARTNERS Ltd lifted its position in Oric Pharmaceuticals by 35.9% in the 2nd 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 in the last quarter. Finally, Arizona State Retirement System acquired a new position in Oric Pharmaceuticals in the 1st quarter worth $56,000. 95.05% of the stock is currently owned by institutional investors.

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.