Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $19.60.

Several analysts have commented on ORIC shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a “buy” rating and a $14.00 price target on the stock. Benchmark reiterated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Wall Street Zen upgraded Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, HC Wainwright boosted their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 10th.

Oric Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $12.62 on Friday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -9.35 and a beta of 1.00. The company has a 50 day moving average of $12.31 and a 200-day moving average of $10.86. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced 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). Equities research analysts anticipate that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 77,000 shares of the company’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 completion of the sale, the chief financial officer owned 69,828 shares in the company, valued at $955,945.32. This represents a 52.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Oric Pharmaceuticals by 3.9% in the fourth quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock valued at $278,000 after purchasing an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Oric Pharmaceuticals by 1.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock worth $1,042,000 after acquiring an additional 1,985 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after acquiring an additional 2,000 shares during the period. Arizona State Retirement System boosted its holdings in shares of Oric Pharmaceuticals by 21.0% during the fourth quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock worth $99,000 after acquiring an additional 2,107 shares during the period. Finally, Woodline Partners LP grew its position in shares of Oric Pharmaceuticals by 0.9% in the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after purchasing an additional 2,166 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors.

About Oric Pharmaceuticals

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.