Oric Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Beats Expectations By $0.03 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) released its quarterly earnings data on Monday. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03, FiscalAI reports.

Oric Pharmaceuticals Trading Up 5.4%

Shares of NASDAQ:ORIC traded up $0.60 during trading on Monday, reaching $11.71. 1,443,085 shares of the stock were exchanged, compared to its average volume of 1,549,911. The stock has a 50-day moving average price of $9.93 and a 200-day moving average price of $10.90. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The firm has a market cap of $1.14 billion, a PE ratio of -6.77 and a beta of 1.35.

Analyst Ratings Changes

ORIC has been the topic of several research analyst reports. Wall Street Zen downgraded Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Evercore began coverage on Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price target for the company. Wells Fargo & Company lifted their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Citigroup increased their target price on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Wolfe Research initiated coverage on shares of Oric Pharmaceuticals in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.90.

Insider Activity

In related news, insider Pratik S. Multani sold 10,720 shares of the business’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 $97,123.20. Following the completion of the transaction, the insider owned 68,149 shares of the company’s stock, valued at $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dominic Piscitelli sold 10,720 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 value of $97,123.20. Following the completion of the transaction, the chief financial officer owned 68,148 shares in the company, valued at approximately $617,420.88. The trade was a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 54,814 shares of company stock worth $496,615. 5.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after buying an additional 1,525,445 shares in the last quarter. State Street Corp raised its holdings in shares of Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after purchasing an additional 1,854,458 shares during the last quarter. Orbimed Advisors LLC lifted its position in shares of Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after buying an additional 2,742,475 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Oric Pharmaceuticals by 14.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after acquiring an additional 423,795 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new stake in Oric Pharmaceuticals in the fourth quarter worth about $19,642,000. 95.05% of the stock is owned by institutional investors and hedge funds.

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.