Oric Pharmaceuticals (NASDAQ:ORIC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) released its quarterly earnings results on Monday. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04, FiscalAI reports.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $11.71 on Tuesday. The firm has a market cap of $1.14 billion, a P/E ratio of -6.77 and a beta of 1.35. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The firm’s 50 day moving average price is $9.98 and its 200 day moving average price is $10.91.

Analyst Ratings Changes

ORIC has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. JPMorgan Chase & Co. boosted their price objective on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Evercore initiated coverage on shares of Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective on the stock. Piper Sandler began coverage on shares of Oric Pharmaceuticals in a report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 target price for the company. Finally, Wall Street Zen downgraded shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Insider Activity

In other news, CEO Jacob Chacko sold 33,374 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the transaction, the chief executive officer directly 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of Oric Pharmaceuticals stock in a transaction dated 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 transaction, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. This represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,814 shares of company stock valued at $496,615 over the last quarter. Company insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec lifted its position in Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after buying an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Oric Pharmaceuticals by 184.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock valued at $37,000 after acquiring an additional 2,936 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Oric Pharmaceuticals during the 3rd quarter worth $60,000. CANADA LIFE ASSURANCE Co acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $65,000. Finally, Engineers Gate Manager LP purchased a new position in Oric Pharmaceuticals in the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.