Oric Pharmaceuticals (NASDAQ:ORIC) Upgraded by Piper Sandler to Strong-Buy Rating

Piper Sandler upgraded shares of Oric Pharmaceuticals (NASDAQ:ORIC) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. HC Wainwright raised 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, November 14th. Evercore ISI initiated coverage on Oric Pharmaceuticals in a research note on Thursday, November 20th. They set an “outperform” rating and a $25.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Citigroup increased their price objective on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Price Performance

Oric Pharmaceuticals stock opened at $8.45 on Wednesday. The business has a 50 day simple moving average of $10.38 and a 200-day simple moving average of $10.85. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The stock has a market capitalization of $822.95 million, a PE ratio of -4.88 and a beta of 1.36.

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

Insiders Place Their Bets

In related news, CFO Dominic Piscitelli sold 10,720 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the sale, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. The trade was a 13.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the insider directly owned 68,149 shares in the company, valued at approximately $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 54,814 shares of company stock worth $496,615. 6.82% of the stock is owned by corporate insiders.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Orbimed Advisors LLC grew its position in shares of Oric Pharmaceuticals by 305.0% in the third 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 during the last quarter. Vanguard Group Inc. lifted its stake in Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after buying an additional 1,525,445 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in 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 in the last quarter. Royce & Associates LP grew its holdings in Oric Pharmaceuticals by 521.2% during the 3rd quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after buying an additional 1,223,709 shares during the last quarter. Finally, Vivo Capital LLC grew its holdings in Oric Pharmaceuticals by 50.3% during the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock valued at $31,735,000 after buying an additional 1,046,154 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.