Oric Pharmaceuticals’ (ORIC) “Buy” Rating Reaffirmed at BTIG Research

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $26.00 price objective on the stock. BTIG Research‘s target price would indicate a potential upside of 198.71% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, October 15th. HC Wainwright boosted their price objective on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wedbush reduced their price objective on shares of Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Oric Pharmaceuticals from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Monday. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Oric Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Oric Pharmaceuticals Trading Down 3.3%

NASDAQ:ORIC traded down $0.30 during midday trading on Wednesday, reaching $8.70. 216,084 shares of the stock traded hands, compared to its average volume of 1,717,330. The company has a fifty day moving average of $12.76 and a 200 day moving average of $11.15. Oric Pharmaceuticals has a 12 month low of $7.23 and a 12 month high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). On average, research analysts predict that Oric Pharmaceuticals will post -1.53 earnings per share for the current 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 shares were sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the transaction, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at approximately $955,945.32. The trade was a 52.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 105,000 shares of company stock worth $1,432,952. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORIC. Integrated Wealth Concepts LLC purchased a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $38,000. Quantbot Technologies LP purchased a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $46,000. Canada Pension Plan Investment Board purchased a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $128,000. E Fund Management Co. Ltd. purchased a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $139,000. Finally, Ieq Capital LLC purchased a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $146,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.