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

Oric Pharmaceuticals (NASDAQ:ORIC) announced its earnings results on Monday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03, FiscalAI reports.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ:ORIC traded up $0.60 during midday trading on Monday, hitting $11.71. 1,443,094 shares of the company’s stock traded hands, compared to its average volume of 1,549,911. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93. The firm’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $10.90. The company has a market cap of $1.14 billion, a PE ratio of -6.77 and a beta of 1.35.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 10,720 shares of the stock in a transaction that occurred on 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 chief financial officer directly owned 68,148 shares of the company’s stock, valued at $617,420.88. This represents a 13.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $97,123.20. Following the sale, the insider owned 68,149 shares in the company, valued at $617,429.94. This trade represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,814 shares of company stock valued at $496,615 over the last ninety days. Corporate insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC increased its holdings in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after purchasing an additional 2,742,475 shares in the last quarter. Paradigm Biocapital Advisors LP bought a new stake in Oric Pharmaceuticals in the fourth quarter valued at about $19,642,000. State Street Corp raised its position in shares of Oric Pharmaceuticals by 77.1% in the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after acquiring an additional 1,854,458 shares during the period. Vanguard Group Inc. boosted its position in shares of Oric Pharmaceuticals by 48.8% during the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after purchasing an additional 1,525,445 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Oric Pharmaceuticals by 114.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,939,285 shares of the company’s stock valued at $15,863,000 after acquiring an additional 1,034,473 shares during the period. 95.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ORIC has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Tuesday, January 13th. Finally, Piper Sandler started coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Company Profile

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.