HC Wainwright Issues Positive Forecast for Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price

Oric Pharmaceuticals (NASDAQ:ORIC) had its price target boosted by research analysts at HC Wainwright from $23.00 to $25.00 in a research note issued on Tuesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 100.29% from the stock’s current price.

A number of other equities analysts have also weighed in on ORIC. Piper Sandler began coverage on Oric Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Tuesday. Evercore began coverage on Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 target price on the stock. Wolfe Research started coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $15.00 target price on shares of Oric Pharmaceuticals in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.10.

Oric Pharmaceuticals Trading Up 6.6%

NASDAQ:ORIC traded up $0.77 during trading hours on Tuesday, reaching $12.48. The company had a trading volume of 1,949,278 shares, compared to its average volume of 1,559,109. The firm’s 50 day moving average price is $9.98 and its 200-day moving average price is $10.91. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.16 and a beta of 1.35. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. On average, analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 33,374 shares of Oric Pharmaceuticals stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $302,368.44. Following the completion of the sale, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at approximately $5,270,301.66. The trade was a 5.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pratik S. Multani sold 10,720 shares of the 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 transaction, the insider directly owned 68,149 shares in the company, valued at $617,429.94. This trade represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,814 shares of company stock valued at $496,615. Insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ORIC. AQR Capital Management LLC acquired a new position in shares of Oric Pharmaceuticals during the first quarter valued at $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Oric Pharmaceuticals by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock worth $226,000 after buying an additional 3,131 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Oric Pharmaceuticals by 9.2% during the first quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock valued at $1,645,000 after buying an additional 24,778 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Oric Pharmaceuticals by 1,331.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock worth $2,841,000 after acquiring an additional 473,600 shares during the period. Finally, Jane Street Group LLC raised its position in Oric Pharmaceuticals by 56.0% in the first quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock worth $174,000 after acquiring an additional 11,198 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

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.