Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

Oric Pharmaceuticals (NASDAQ:ORIC) had its price target decreased by Wells Fargo & Company from $20.00 to $19.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on ORIC. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, October 27th. Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Guggenheim began coverage on Oric Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.14.

Oric Pharmaceuticals Price Performance

ORIC stock traded up $0.06 on Friday, reaching $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 company has a market capitalization of $1.19 billion, a P/E ratio of -7.08 and a beta of 1.66. The firm has a fifty day moving average of $12.19 and a two-hundred day moving average of $10.12.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. As a group, equities analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the sale, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the completion of the transaction, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 261,000 shares of company stock worth $3,024,703 over the last ninety days. 6.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning grew its position in Oric Pharmaceuticals by 59.5% during the 3rd quarter. Creative Planning now owns 17,694 shares of the company’s stock worth $212,000 after purchasing an additional 6,599 shares in the last quarter. Orbimed Advisors LLC grew its holdings in shares of Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after buying an additional 2,742,475 shares in the last quarter. California State Teachers Retirement System raised its position in Oric Pharmaceuticals by 1,067.5% during the third quarter. California State Teachers Retirement System now owns 32,689 shares of the company’s stock valued at $392,000 after buying an additional 29,889 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Oric Pharmaceuticals during the third quarter valued at $279,000. Finally, UBS Group AG lifted its stake in Oric Pharmaceuticals by 242.6% in the 3rd quarter. UBS Group AG now owns 339,236 shares of the company’s stock worth $4,071,000 after acquiring an additional 240,230 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.