Oric Pharmaceuticals (NASDAQ:ORIC) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

ORIC has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price target 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. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Friday, November 14th. HC Wainwright boosted their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer upped their price target on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Finally, Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Oric Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Oric Pharmaceuticals Stock Performance

ORIC opened at $11.90 on Tuesday. The stock has a market capitalization of $1.16 billion, a PE ratio of -6.88 and a beta of 1.66. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The business’s 50 day moving average price is $12.25 and its 200 day moving average price is $10.27.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. As a group, equities research analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 48,317 shares in the company, valued at approximately $701,562.84. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 125,000 shares of Oric Pharmaceuticals stock in a transaction dated 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 sale, the chief executive officer directly owned 656,419 shares in the company, valued at approximately $7,089,325.20. The trade was a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 261,000 shares of company stock worth $3,024,703. 5.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after buying an additional 1,009 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Oric Pharmaceuticals by 2.9% during the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after acquiring an additional 1,358 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its position in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after acquiring an additional 1,372 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Oric Pharmaceuticals by 12.9% in the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Oric Pharmaceuticals by 0.9% in the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after purchasing an additional 2,166 shares in 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.