Brokerages Set Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) PT at $19.90

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.90.

A number of analysts have recently issued reports on ORIC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. Citigroup boosted their price target on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 17th. Wolfe Research initiated coverage on shares of Oric Pharmaceuticals in a report on Tuesday, November 18th. They set a “peer perform” rating for the company. HC Wainwright lifted their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd.

Oric Pharmaceuticals Stock Performance

Shares of ORIC opened at $10.98 on Thursday. The company has a 50-day simple moving average of $10.09 and a 200-day simple moving average of $10.93. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93. The firm has a market capitalization of $1.07 billion, a P/E ratio of -6.35 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.08. As a group, equities analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Transactions at Oric Pharmaceuticals

In related news, CEO Jacob Chacko sold 33,374 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $302,368.44. Following the completion of the transaction, the chief executive officer owned 581,711 shares in the company, valued at $5,270,301.66. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the sale, the chief financial officer owned 68,148 shares in the company, valued at $617,420.88. This trade represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 54,814 shares of company stock valued at $496,615. Corporate insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Oric Pharmaceuticals by 17,300.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after buying an additional 2,422 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Oric Pharmaceuticals in the 3rd quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. grew its position in Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Oric Pharmaceuticals during the 3rd quarter valued at $60,000. Finally, ANTIPODES PARTNERS Ltd raised its position in Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after purchasing an additional 1,372 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

About Oric Pharmaceuticals

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.