Wolfe Research Begins Coverage on Oric Pharmaceuticals (NASDAQ:ORIC)

Equities research analysts at Wolfe Research initiated coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research note issued to investors on Tuesday. The brokerage set a “peer perform” rating on the stock.

A number of other equities research analysts also recently weighed in on ORIC. Wall Street Zen raised Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright boosted their price target on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company cut their price objective on shares of Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer lifted their target price on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $17.88.

Oric Pharmaceuticals Trading Down 1.6%

NASDAQ ORIC opened at $12.06 on Tuesday. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The company has a market cap of $1.17 billion, a PE ratio of -6.97 and a beta of 1.66. The stock’s 50-day moving average price is $12.23 and its two-hundred day moving average price is $10.23.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08. Research analysts forecast that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the completion of the sale, the chief executive officer owned 531,419 shares in the company, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 261,000 shares of company stock worth $3,024,703 in the last three months. Insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC lifted its position in shares of Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Oric Pharmaceuticals by 48.8% in the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after purchasing an additional 1,525,445 shares in the last quarter. MPM Bioimpact LLC acquired a new position in Oric Pharmaceuticals during the 1st quarter worth $7,809,000. JPMorgan Chase & Co. lifted its holdings in Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after buying an additional 1,299,799 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Oric Pharmaceuticals by 521.2% in the 3rd quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after buying an additional 1,223,709 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.