Oric Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Misses Estimates By $0.02 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) issued its earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02), FiscalAI reports.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock traded down $0.47 on Monday, reaching $10.60. The stock had a trading volume of 2,459,690 shares, compared to its average volume of 1,788,145. The business’s 50-day moving average price is $9.72 and its two-hundred day moving average price is $10.41. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.93. The stock has a market cap of $1.10 billion, a P/E ratio of -7.36 and a beta of 1.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec grew its position in shares of Oric Pharmaceuticals by 100.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Oric Pharmaceuticals by 184.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock worth $37,000 after purchasing an additional 2,936 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Oric Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after purchasing an additional 977 shares during the period. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals during the 3rd quarter valued at approximately $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at approximately $65,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ORIC shares. Citigroup cut their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. Finally, The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

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.