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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.00.

Several equities analysts have recently issued reports on ORIC shares. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on shares of Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Finally, HC Wainwright raised their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 14th.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $14.52, for a total value of $159,720.00. Following the transaction, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This represents a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the sale, the chief executive officer owned 531,419 shares of the company’s stock, valued at $6,547,082.08. This trade represents a 6.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 261,000 shares of company stock worth $3,024,703 in the last three months. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. TD Asset Management Inc lifted its position in shares of Oric Pharmaceuticals by 3.3% in the first quarter. TD Asset Management Inc now owns 152,700 shares of the company’s stock worth $852,000 after buying an additional 4,900 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Oric Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company’s stock valued at $17,945,000 after acquiring an additional 12,098 shares in the last quarter. Swiss National Bank lifted its holdings in Oric Pharmaceuticals by 9.6% in the 1st quarter. Swiss National Bank now owns 68,400 shares of the company’s stock worth $382,000 after purchasing an additional 6,000 shares during the last quarter. Vivo Capital LLC boosted its position in Oric Pharmaceuticals by 62.8% during the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company’s stock worth $11,609,000 after purchasing an additional 802,632 shares during the period. Finally, Invesco Ltd. boosted its position in Oric Pharmaceuticals by 68.7% during the first quarter. Invesco Ltd. now owns 40,419 shares of the company’s stock worth $226,000 after purchasing an additional 16,461 shares during the period. 95.05% of the stock is owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Price Performance

ORIC opened at $10.65 on Wednesday. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The business has a 50-day moving average of $12.41 and a two-hundred day moving average of $10.73. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -6.16 and a beta of 1.32.

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