The Manufacturers Life Insurance Company Has $2.31 Million Stock Position in Oric Pharmaceuticals, Inc. $ORIC

The Manufacturers Life Insurance Company increased its holdings in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,139 shares of the company’s stock after acquiring an additional 53,490 shares during the period. The Manufacturers Life Insurance Company owned about 0.18% of Oric Pharmaceuticals worth $2,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ORIC. Federation des caisses Desjardins du Quebec grew its stake in Oric Pharmaceuticals by 100.0% during the 4th 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted 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 worth $37,000 after purchasing an additional 2,936 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 purchasing an additional 977 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Oric Pharmaceuticals during the third quarter worth approximately $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in shares of Oric Pharmaceuticals during the third quarter worth approximately $65,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, May 15th. Citigroup decreased their target price 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. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Finally, Stifel Nicolaus started coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They set a “buy” rating and a $14.00 price objective for the company. Thirteen investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.27.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $13.50 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of -10.00 and a beta of 1.02. The stock’s 50 day moving average price is $10.15 and its 200 day moving average price is $10.47. Oric Pharmaceuticals, Inc. has a 52 week low of $7.23 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). As a group, sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

About Oric Pharmaceuticals

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.