Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock Has Average Price Target of $20.18

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.18.

Several equities analysts have commented on the stock. HC Wainwright increased their price objective on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. BTIG Research began coverage on shares of Oric Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th.

Oric Pharmaceuticals Price Performance

Shares of ORIC opened at $12.52 on Tuesday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.27 and a beta of 0.98. Oric Pharmaceuticals has a 1 year low of $7.23 and a 1 year high of $14.93. The business’s 50 day simple moving average is $12.97 and its 200-day simple moving average is $10.87.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). On average, sell-side analysts expect that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

Insider Transactions at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 13,400 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $13.53, for a total value of $181,302.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at $944,772.84. This trade represents a 16.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,000 shares of company stock worth $1,243,532 in the last quarter. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Defilade Capital Management L.P. bought a new position in Oric Pharmaceuticals during the first quarter valued at $10,680,000. Blue Owl Capital Holdings LP bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $4,332,000. Squarepoint Ops LLC bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $3,729,000. Siren L.L.C. lifted its holdings in shares of Oric Pharmaceuticals by 197.6% in the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after acquiring an additional 1,990,617 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Oric Pharmaceuticals by 19.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock worth $18,637,000 after purchasing an additional 244,060 shares during the period. Institutional investors own 95.05% of the company’s stock.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric’s research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).