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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.20.

A number of analysts have recently commented on ORIC shares. Oppenheimer reiterated an “outperform” rating and set a $15.00 target price on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th. Wolfe Research began coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Wall Street Zen upgraded Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Citigroup boosted their price objective on Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, December 8th.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock opened at $11.76 on Friday. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The company has a market cap of $1.18 billion, a PE ratio of -7.74 and a beta of 1.28. The business has a 50-day simple moving average of $11.24 and a 200-day simple moving average of $11.21.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its 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. On average, sell-side analysts predict that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total value of $702,520.00. Following the transaction, the chief financial officer owned 68,148 shares of the company’s stock, valued at approximately $920,679.48. The trade was a 43.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the company’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 $97,123.20. Following the sale, the insider owned 68,149 shares of the company’s stock, valued at $617,429.94. This trade represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 106,814 shares of company stock worth $1,199,135 in the last 90 days. 6.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 buying an additional 1,525,445 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in shares of Oric Pharmaceuticals by 12.5% in the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after acquiring an additional 500,000 shares in the last quarter. State Street Corp boosted its holdings in shares of Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after acquiring an additional 1,854,458 shares in the last quarter. Orbimed Advisors LLC increased its stake in shares of 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 acquiring an additional 2,742,475 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Oric Pharmaceuticals by 14.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after acquiring an additional 423,795 shares during the period. 95.05% of the stock is currently owned by hedge funds and other 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.