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

Wedbush restated their outperform rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report issued on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock.

A number of other equities analysts have also weighed in on ORIC. Piper Sandler began coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 target price for the company. HC Wainwright raised their price objective on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wolfe Research began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Citigroup raised their price target on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $15.00 price objective on shares of Oric Pharmaceuticals in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $20.20.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $13.42 on Tuesday. The company has a market capitalization of $1.31 billion, a P/E ratio of -8.83 and a beta of 1.35. The business has a fifty day simple moving average of $10.07 and a two-hundred day simple moving average of $10.94. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. As a group, analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity at Oric Pharmaceuticals

In other Oric Pharmaceuticals 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 transaction, the chief executive officer directly owned 581,711 shares in the company, valued at $5,270,301.66. This represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the sale, the insider directly owned 68,149 shares in the company, valued at approximately $617,429.94. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 54,814 shares of company stock valued at $496,615. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently bought and sold shares of ORIC. Vivo Capital LLC lifted its holdings in shares of Oric Pharmaceuticals by 50.3% during the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after acquiring an additional 1,046,154 shares during the last quarter. JPMorgan Chase & Co. raised its position in Oric Pharmaceuticals by 3,646.1% during the second quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock valued at $13,555,000 after purchasing an additional 1,299,799 shares in the last quarter. Alkeon Capital Management LLC lifted its stake in Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after purchasing an additional 500,000 shares during the last quarter. Resolute Capital Asset Partners LLC bought a new stake in Oric Pharmaceuticals during the second quarter worth about $2,309,000. Finally, Stempoint Capital LP purchased a new position in shares of Oric Pharmaceuticals in the 2nd quarter worth about $2,038,000. 95.05% of the stock is currently owned by 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.