Oric Pharmaceuticals’ (ORIC) “Outperform” Rating Reiterated at Wedbush

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

A number of other analysts have also recently commented on ORIC. Oppenheimer upped their price objective on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday. Guggenheim assumed coverage on shares of Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $18.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company decreased their price target on shares of Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.14.

Oric Pharmaceuticals Stock Up 0.5%

ORIC opened at $12.25 on Friday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.08 and a beta of 1.66. The firm has a 50 day moving average price of $12.19 and a 200-day moving average price of $10.18. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. As a group, analysts expect 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 stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Chacko sold 125,000 shares of the 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 completion of the transaction, the chief executive officer owned 656,419 shares in the company, valued at $7,089,325.20. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 261,000 shares of company stock valued at $3,024,703. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Arizona State Retirement System acquired a new stake in Oric Pharmaceuticals during the 1st quarter worth $56,000. New York State Common Retirement Fund grew its holdings in shares of Oric Pharmaceuticals by 137.1% during the first quarter. New York State Common Retirement Fund now owns 38,486 shares of the company’s stock worth $215,000 after purchasing an additional 22,257 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Oric Pharmaceuticals by 54.1% during the first quarter. Victory Capital Management Inc. now owns 150,260 shares of the company’s stock worth $838,000 after purchasing an additional 52,760 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Oric Pharmaceuticals in the 1st quarter valued at about $109,000. Finally, TD Asset Management Inc lifted its holdings in shares of Oric Pharmaceuticals by 3.3% in the 1st quarter. TD Asset Management Inc now owns 152,700 shares of the company’s stock valued at $852,000 after purchasing an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.