HC Wainwright Reiterates Buy Rating for Oric Pharmaceuticals (NASDAQ:ORIC)

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 110.08% from the company’s current price.

ORIC has been the topic of a number of other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Monday, March 9th. Wolfe Research started coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, January 22nd. Citigroup raised their target price on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Finally, Piper Sandler assumed coverage on shares of Oric Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $22.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.20.

Oric Pharmaceuticals Stock Up 1.2%

ORIC stock opened at $11.90 on Friday. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The firm has a market cap of $1.19 billion, a P/E ratio of -7.83 and a beta of 1.28. The company’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $11.24.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. Equities analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Transactions at Oric Pharmaceuticals

In related news, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were 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. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jacob Chacko sold 33,374 shares of the stock in a transaction on Tuesday, December 16th. The shares were 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 owned 581,711 shares of the company’s stock, valued at $5,270,301.66. The trade was a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 106,814 shares of company stock worth $1,199,135. Company insiders own 6.82% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 1,525,445 shares during the period. Alkeon Capital Management LLC increased its position in Oric Pharmaceuticals by 12.5% during the 2nd quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after purchasing an additional 500,000 shares during the period. State Street Corp increased its position in Oric Pharmaceuticals by 77.1% during the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after purchasing an additional 1,854,458 shares during the period. Orbimed Advisors LLC increased its position 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 buying an additional 2,742,475 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position 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 buying an additional 423,795 shares during the period. 95.05% of the stock is currently owned by 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.