Oric Pharmaceuticals (NASDAQ:ORIC) Research Coverage Started at Leerink Partners

Leerink Partners initiated coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research note published on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $26.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Stifel Nicolaus assumed coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They set a “buy” rating and a $14.00 price target for the company. Finally, BTIG Research assumed coverage on Oric Pharmaceuticals in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Oric Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Oric Pharmaceuticals Stock Up 0.3%

ORIC stock opened at $12.01 on Monday. The company has a 50 day moving average of $13.00 and a two-hundred day moving average of $10.88. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -8.90 and a beta of 0.99. Oric Pharmaceuticals has a 12-month low of $7.23 and a 12-month high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). On average, research analysts anticipate that Oric Pharmaceuticals will post -1.53 EPS for the current year.

Insider Transactions at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 77,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at approximately $955,945.32. This trade represents a 52.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 91,000 shares of company stock valued at $1,243,532. Company insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals in the second quarter valued at about $73,904,000. Siren L.L.C. boosted its stake in Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after purchasing an additional 1,990,617 shares during the period. Dimensional Fund Advisors LP boosted its stake in Oric Pharmaceuticals by 19.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock valued at $18,637,000 after purchasing an additional 244,060 shares during the period. Algert Global LLC grew its holdings in Oric Pharmaceuticals by 791.3% in the 2nd quarter. Algert Global LLC now owns 1,215,293 shares of the company’s stock valued at $13,162,000 after buying an additional 1,078,943 shares during the last quarter. Finally, Braidwell LP grew its holdings in Oric Pharmaceuticals by 7.7% in the 2nd quarter. Braidwell LP now owns 1,214,540 shares of the company’s stock valued at $13,153,000 after buying an additional 86,500 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research is centered on mechanisms that enable tumors to resist or evade treatment, with the goal of restoring sensitivity to established cancer therapies and improving patient outcomes.

Oric’s pipeline has included investigational small-molecule therapies designed to target cancer biology and treatment resistance. These programs include ORIC-533, an oral inhibitor of CD73 being studied in oncology, and ORIC-944, an oral allosteric inhibitor of EED, a component of the polycomb repressive complex 2.