Oric Pharmaceuticals (NASDAQ:ORIC) Posts Quarterly Earnings Results

Oric Pharmaceuticals (NASDAQ:ORIC) posted its quarterly earnings results on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02), FiscalAI reports.

Oric Pharmaceuticals Trading Down 4.2%

Oric Pharmaceuticals stock opened at $10.60 on Tuesday. The company has a market cap of $1.10 billion, a P/E ratio of -7.36 and a beta of 1.02. Oric Pharmaceuticals has a 1-year low of $7.23 and a 1-year high of $14.93. The company has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $10.41.

Hedge Funds Weigh In On Oric Pharmaceuticals

Large investors have recently modified their holdings of the business. Federation des caisses Desjardins du Quebec boosted its position in 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 purchasing an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Oric Pharmaceuticals by 184.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock worth $37,000 after buying an additional 2,936 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Oric Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after acquiring an additional 977 shares during the period. Russell Investments Group Ltd. acquired a new position in Oric Pharmaceuticals in the 3rd quarter valued at $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new position in shares of Oric Pharmaceuticals in the third quarter valued at about $65,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ORIC has been the subject of several analyst reports. Citigroup decreased their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, May 15th. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Stifel Nicolaus initiated coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Thirteen 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.27.

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.