Oric Pharmaceuticals’ (ORIC) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research report released on Wednesday morning,Benzinga reports. They currently have a $26.00 target price on the stock.

ORIC has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Wall Street Zen upgraded Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Wedbush decreased their target price on Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price target on Oric Pharmaceuticals from $14.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Fourteen 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Oric Pharmaceuticals Trading Up 2.8%

ORIC stock opened at $9.24 on Wednesday. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.68. The firm has a 50-day moving average of $12.46 and a two-hundred day moving average of $11.15. The firm has a market capitalization of $957.75 million, a PE ratio of -6.84 and a beta of 0.99.

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

Insider Activity

In other news, CFO Dominic Piscitelli sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total value of $189,420.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at $944,772.84. This represents a 16.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock valued at $1,432,952 over the last ninety days. 5.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORIC. BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals during the 2nd quarter valued at $73,904,000. Siren L.L.C. grew its holdings in shares of 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 acquiring an additional 1,990,617 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Oric Pharmaceuticals by 19.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock worth $18,637,000 after acquiring an additional 244,060 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Oric Pharmaceuticals by 105.5% in the first quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock worth $13,217,000 after acquiring an additional 535,649 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of Oric Pharmaceuticals by 791.3% in the second quarter. Algert Global LLC now owns 1,215,293 shares of the company’s stock worth $13,162,000 after acquiring an additional 1,078,943 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric’s pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.