Analysts Set Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) PT at $19.27

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have earned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.2727.

ORIC has been the topic of several analyst reports. Wall Street Zen downgraded Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Wedbush lowered their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Citigroup dropped their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, April 21st.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ORIC. Orbimed Advisors LLC lifted its stake in Oric Pharmaceuticals by 305.0% in 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. Paradigm Biocapital Advisors LP bought a new position in shares of Oric Pharmaceuticals during the fourth quarter valued at approximately $19,642,000. Siren L.L.C. raised its holdings in shares of Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after buying an additional 1,990,617 shares during the period. State Street Corp raised 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 worth $34,834,000 after buying an additional 1,854,458 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Oric Pharmaceuticals by 48.8% in the third 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 period. 95.05% of the stock is currently owned by institutional investors.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC opened at $10.73 on Thursday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -7.45 and a beta of 1.02. Oric Pharmaceuticals has a 12 month low of $7.23 and a 12 month high of $14.93. The company has a 50-day moving average price of $9.15 and a 200 day moving average price of $10.20.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, equities analysts forecast that Oric Pharmaceuticals will post -1.45 EPS for the current year.

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.