Oric Pharmaceuticals (NASDAQ:ORIC) Research Coverage Started at BTIG Research

BTIG Research began coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $26.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright upped their price target on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They set a “buy” rating and a $14.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Finally, Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.18.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $13.16 on Wednesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of -9.75 and a beta of 1.00. The business has a 50 day simple moving average of $12.78 and a 200 day simple moving average of $10.85. Oric Pharmaceuticals has a 12-month low of $7.23 and a 12-month high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Research analysts anticipate that Oric Pharmaceuticals will post -1.53 EPS for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the completion of the transaction, the chief financial officer owned 69,828 shares in the company, valued at approximately $955,945.32. The trade was a 52.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. Quantinno Capital Management LP increased its stake in Oric Pharmaceuticals by 9.3% during the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock valued at $323,000 after buying an additional 2,170 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Oric Pharmaceuticals by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 190,470 shares of the company’s stock worth $2,413,000 after acquiring an additional 2,549 shares during the period. ProShare Advisors LLC lifted its stake in shares of Oric Pharmaceuticals by 22.5% in the 4th quarter. ProShare Advisors LLC now owns 16,392 shares of the company’s stock worth $134,000 after acquiring an additional 3,009 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Oric Pharmaceuticals in the second quarter valued at approximately $38,000. Finally, Quantbot Technologies LP bought a new position in shares of Oric Pharmaceuticals in the second quarter valued at approximately $46,000. 95.05% of the stock is currently owned by institutional investors.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric’s research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).