Oric Pharmaceuticals (NASDAQ:ORIC) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) announced its quarterly earnings results on Monday. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03), FiscalAI reports.

Oric Pharmaceuticals Price Performance

Shares of NASDAQ ORIC traded down $0.14 during trading hours on Monday, hitting $9.63. 1,052,266 shares of the stock were exchanged, compared to its average volume of 1,850,234. The company’s 50 day moving average is $11.26 and its 200 day moving average is $11.02. The firm has a market capitalization of $996.90 million, a P/E ratio of -6.34 and a beta of 1.11. Oric Pharmaceuticals has a one year low of $4.52 and a one year high of $14.93.

Insider Activity

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 52,000 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the completion of the sale, the chief financial officer directly owned 68,148 shares of the company’s stock, valued at $920,679.48. This represents a 43.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec boosted its holdings in Oric Pharmaceuticals by 100.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Oric Pharmaceuticals by 184.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock valued at $37,000 after purchasing an additional 2,936 shares during the period. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $60,000. CANADA LIFE ASSURANCE Co bought a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $65,000. Finally, Engineers Gate Manager LP bought a new stake in Oric Pharmaceuticals in the 4th quarter valued at $85,000. 95.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, April 21st. Wedbush dropped their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Piper Sandler began coverage on shares of Oric Pharmaceuticals in a report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Thursday, April 2nd. Finally, Citigroup upped their price objective on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Eleven equities 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.90.

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.