Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $19.90 Average PT from Analysts

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $19.80.

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Tuesday, April 21st. Wedbush dropped their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Citigroup dropped their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler assumed coverage on shares of Oric Pharmaceuticals in a report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Monday, March 9th.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 52,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total transaction of $702,520.00. Following the sale, the chief financial officer directly owned 68,148 shares in the company, valued at $920,679.48. This trade represents a 43.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $37,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after buying an additional 1,009 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake 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 buying an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 2,936 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $60,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Oric Pharmaceuticals Stock Performance

ORIC opened at $9.30 on Friday. The firm’s fifty day moving average is $11.18 and its two-hundred day moving average is $10.96. The firm has a market cap of $962.74 million, a PE ratio of -6.46 and a beta of 1.11. Oric Pharmaceuticals has a twelve month low of $4.52 and a twelve month high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results 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). Equities analysts forecast that Oric Pharmaceuticals will post -1.34 EPS for the current fiscal 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.