Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $25.00 at HC Wainwright

Oric Pharmaceuticals (NASDAQ:ORIC) had its target price lifted by HC Wainwright from $23.00 to $25.00 in a research note published on Tuesday morning, Marketbeat reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on ORIC. Citigroup raised their price target on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore assumed coverage on Oric Pharmaceuticals in a research report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $15.00 target price on shares of Oric Pharmaceuticals in a research report on Tuesday. Piper Sandler began coverage on Oric Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Eleven research analysts have rated the stock with a Buy rating, two have issued 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 an average price target of $20.20.

Oric Pharmaceuticals Price Performance

NASDAQ ORIC opened at $13.42 on Tuesday. The business has a 50 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. The stock has a market capitalization of $1.31 billion, a PE ratio of -8.83 and a beta of 1.35.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, analysts anticipate that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Activity

In related news, insider Pratik S. Multani sold 10,720 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the insider owned 68,149 shares of the company’s stock, valued at $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. This trade represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 54,814 shares of company stock valued at $496,615. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position 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 in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares during the last quarter. Assetmark Inc. purchased a new position in Oric Pharmaceuticals in the 3rd quarter valued at $37,000. Caitong International Asset Management Co. Ltd raised its position in shares of Oric Pharmaceuticals by 184.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock valued at $37,000 after buying an additional 2,936 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Oric Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after buying an additional 977 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.