Oric Pharmaceuticals (NASDAQ:ORIC) Stock Keeps Buy Rating at BTIG Research

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They presently have a $26.00 target price on the stock. BTIG Research‘s price target would indicate a potential upside of 195.66% from the company’s previous close.

Several other research analysts also recently weighed in on ORIC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, October 15th. JPMorgan Chase & Co. boosted their price objective on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. Stifel Nicolaus upped their price objective on Oric Pharmaceuticals from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright raised their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Leerink Partners began coverage on Oric Pharmaceuticals in a research report on Monday, October 5th. They set an “outperform” rating and a $26.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Oric Pharmaceuticals Price Performance

Shares of NASDAQ ORIC traded down $0.21 during midday trading on Wednesday, hitting $8.79. 310,554 shares of the company’s stock traded hands, compared to its average volume of 1,718,391. The firm has a fifty day moving average of $12.76 and a 200 day moving average of $11.15. Oric Pharmaceuticals has a 1 year low of $7.23 and a 1 year high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data 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). Equities research analysts anticipate that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

Insider Activity

In related news, CFO Dominic Piscitelli sold 14,000 shares of Oric Pharmaceuticals stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total transaction of $189,420.00. Following the transaction, the chief financial officer owned 69,828 shares in the company, valued at approximately $944,772.84. The trade was a 16.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock valued at $1,432,952 over the last three months. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ORIC. China Universal Asset Management Co. Ltd. increased its stake in Oric Pharmaceuticals by 7.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,913 shares of the company’s stock worth $320,000 after buying an additional 1,760 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Oric Pharmaceuticals in the second quarter valued at about $899,000. Engineers Gate Manager LP purchased a new position in shares of Oric Pharmaceuticals in the second quarter valued at about $694,000. Integrated Wealth Concepts LLC bought a new position in shares of Oric Pharmaceuticals in the second quarter worth about $38,000. Finally, Squarepoint Ops LLC bought a new position in shares of Oric Pharmaceuticals in the second quarter worth about $3,729,000. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric’s pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.