Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Moderate Buy” by Brokerages

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.20.

A number of equities research analysts have commented on ORIC shares. Piper Sandler initiated coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective on the stock. Evercore began coverage on shares of Oric Pharmaceuticals in a research report on Thursday, November 20th. They set an “outperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Monday, March 9th. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Tuesday, February 24th. Finally, Citigroup lifted their price target on Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total transaction of $702,520.00. Following the sale, the chief financial officer owned 68,148 shares of the company’s stock, valued at approximately $920,679.48. This trade represents a 43.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC lifted its position in shares of Oric Pharmaceuticals by 50.3% during the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after buying an additional 1,046,154 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Oric Pharmaceuticals by 3,646.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock valued at $13,555,000 after buying an additional 1,299,799 shares during the last quarter. Alkeon Capital Management LLC raised its stake in Oric Pharmaceuticals by 12.5% during the 2nd quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after acquiring an additional 500,000 shares in the last quarter. Resolute Capital Asset Partners LLC acquired a new stake in Oric Pharmaceuticals during the 2nd quarter worth $2,309,000. Finally, Royce & Associates LP lifted its position in Oric Pharmaceuticals by 521.2% in the third quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after acquiring an additional 1,223,709 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Stock Performance

Shares of ORIC opened at $12.07 on Friday. The stock has a 50-day simple moving average of $11.48 and a 200-day simple moving average of $11.27. The stock has a market capitalization of $1.21 billion, a PE ratio of -7.94 and a beta of 1.28. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

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.