Oric Pharmaceuticals (NASDAQ:ORIC) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $22.00 price objective on the stock.

Several other research firms also recently weighed in on ORIC. Wells Fargo & Company lifted their price target on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Evercore ISI began coverage on Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Citigroup raised their price objective on Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $19.90.

Oric Pharmaceuticals Stock Performance

Oric Pharmaceuticals stock opened at $9.15 on Wednesday. The stock has a market capitalization of $891.12 million, a price-to-earnings ratio of -5.29 and a beta of 1.36. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93. The stock’s 50 day moving average price is $10.30 and its two-hundred day moving average price is $10.85.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.08. On average, equities research analysts forecast that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 33,374 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the transaction, the chief executive officer owned 581,711 shares in the company, valued at $5,270,301.66. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of Oric Pharmaceuticals stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $617,420.88. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,814 shares of company stock worth $496,615. Insiders own 6.82% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Oric Pharmaceuticals by 48.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after acquiring an additional 1,525,445 shares during the last quarter. Alkeon Capital Management LLC lifted its position in shares of Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after purchasing an additional 500,000 shares in the last quarter. Orbimed Advisors LLC boosted its holdings in Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the last quarter. Vivo Capital LLC grew its position in Oric Pharmaceuticals by 50.3% in the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after purchasing an additional 1,046,154 shares in the last quarter. Finally, MPM Bioimpact LLC grew its position in Oric Pharmaceuticals by 23.6% in the 2nd quarter. MPM Bioimpact LLC now owns 1,729,378 shares of the company’s stock worth $17,553,000 after purchasing an additional 329,864 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.