Oric Pharmaceuticals (NASDAQ:ORIC) Given Outperform Rating at Wedbush

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Friday,RTT News reports. They presently have a $20.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 63.27% from the company’s previous close.

A number of other analysts also recently commented on ORIC. Oppenheimer boosted their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday. HC Wainwright boosted their price objective on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Guggenheim assumed coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.14.

Oric Pharmaceuticals Trading Up 0.5%

NASDAQ:ORIC traded up $0.06 during trading hours on Friday, hitting $12.25. The company’s stock had a trading volume of 1,557,611 shares, compared to its average volume of 1,107,275. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93. The stock has a market capitalization of $1.19 billion, a P/E ratio of -7.08 and a beta of 1.66. The stock has a fifty day moving average of $12.19 and a 200-day moving average of $10.12.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. On average, sell-side analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity

In related news, CEO Jacob Chacko sold 37,461 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $12.32, for a total value of $461,519.52. Following the transaction, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This trade represents a 6.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total transaction of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 261,000 shares of company stock worth $3,024,703. Corporate insiders own 6.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Oric Pharmaceuticals by 36.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after buying an additional 1,009 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Oric Pharmaceuticals by 2.9% during the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after purchasing an additional 1,358 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after acquiring an additional 1,372 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Oric Pharmaceuticals by 12.9% in the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after buying an additional 1,527 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Oric Pharmaceuticals by 17,300.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after acquiring an additional 2,422 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Oric Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.