Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $19.3636.

A number of research analysts recently issued reports on ORIC shares. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Oric Pharmaceuticals in a research note on Thursday, April 2nd. Citigroup lowered their target price on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th.

Oric Pharmaceuticals Price Performance

Shares of ORIC opened at $8.45 on Wednesday. The company’s fifty day moving average is $9.71 and its 200-day moving average is $10.45. Oric Pharmaceuticals has a 12 month low of $6.89 and a 12 month high of $14.93. The firm has a market cap of $874.74 million, a price-to-earnings ratio of -5.87 and a beta of 1.04.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, research analysts predict that Oric Pharmaceuticals will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Oric Pharmaceuticals by 105.5% in the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock valued at $13,217,000 after buying an additional 535,649 shares during the last quarter. California State Teachers Retirement System grew its stake in Oric Pharmaceuticals by 42.4% in the 1st quarter. California State Teachers Retirement System now owns 48,369 shares of the company’s stock valued at $613,000 after buying an additional 14,410 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Oric Pharmaceuticals by 41.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 182,139 shares of the company’s stock valued at $2,308,000 after buying an additional 53,490 shares during the last quarter. Quantinno Capital Management LP grew its stake in Oric Pharmaceuticals by 9.3% in the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock valued at $323,000 after buying an additional 2,170 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new position in Oric Pharmaceuticals in the 1st quarter valued at $538,000. 95.05% of the stock is currently 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.