Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock Has Average Target Price of $21.17

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.25.

Several equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, October 15th. BTIG Research reissued a “buy” rating and issued a $26.00 price target on shares of Oric Pharmaceuticals in a research note on Wednesday. Wedbush cut their price target on shares of Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday. Leerink Partners began coverage on shares of Oric Pharmaceuticals in a research report on Monday, October 5th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th.

Insider Activity

In other news, CFO Dominic Piscitelli sold 14,000 shares of the stock in a transaction on Tuesday, October 20th. The stock was 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 owned 69,828 shares in the company, 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 is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,000 shares of company stock valued at $1,432,952 in the last ninety days. 5.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at approximately $899,000. Defilade Capital Management L.P. bought a new stake in Oric Pharmaceuticals in the first quarter worth $10,680,000. Blue Owl Capital Holdings LP bought a new stake in Oric Pharmaceuticals in the second quarter worth $4,332,000. Squarepoint Ops LLC acquired a new position in Oric Pharmaceuticals during the second quarter worth $3,729,000. Finally, Bank of America Corp DE acquired a new position in Oric Pharmaceuticals during the second quarter worth $11,675,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $9.24 on Friday. Oric Pharmaceuticals has a 1 year low of $7.23 and a 1 year high of $14.68. The business’s fifty day moving average is $12.46 and its two-hundred day moving average is $11.15. The stock has a market capitalization of $957.75 million, a P/E ratio of -6.84 and a beta of 0.99.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data 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, research analysts forecast that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

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.