Oric Pharmaceuticals (NASDAQ:ORIC) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report issued on Tuesday morning,Benzinga reports. Wedbush currently has a $20.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright upped 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, November 14th. Piper Sandler initiated coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective on the stock. Citigroup raised their price objective on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 17th. Wall Street Zen lowered Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, Oppenheimer raised their price target on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Eleven equities 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 stock. Based on data from MarketBeat.com, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Oric Pharmaceuticals Trading Up 10.8%

ORIC stock opened at $10.14 on Tuesday. The business’s fifty day moving average price is $10.18 and its 200 day moving average price is $10.84. Oric Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.93. The company has a market capitalization of $987.53 million, a PE ratio of -5.86 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced 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. Research analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jacob Chacko sold 33,374 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the completion of the sale, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at $5,270,301.66. This represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dominic Piscitelli sold 10,720 shares of Oric Pharmaceuticals 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 $97,123.20. Following the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $617,420.88. This trade represents a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 54,814 shares of company stock valued at $496,615. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in shares of 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 during the last quarter. Assetmark Inc. acquired a new position in Oric Pharmaceuticals in the 3rd quarter valued at about $37,000. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $45,000 after acquiring an additional 1,009 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in Oric Pharmaceuticals by 35.9% during the 2nd 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 period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Oric Pharmaceuticals in the third quarter valued at approximately $60,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

About Oric Pharmaceuticals

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.