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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $19.00.

ORIC has been the subject of several analyst reports. Evercore ISI assumed coverage on Oric Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective for the company. Wall Street Zen downgraded Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. HC Wainwright raised their price objective on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Friday, November 14th.

Insider Transactions at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 125,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the sale, the chief executive officer directly owned 656,419 shares of the company’s stock, valued at $7,089,325.20. This represents a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares in the company, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 261,000 shares of company stock valued at $3,024,703. Insiders own 5.55% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in shares of Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after buying an additional 2,422 shares during the period. Assetmark Inc. purchased a new stake in Oric Pharmaceuticals in the 3rd quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. raised its position in Oric Pharmaceuticals by 36.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares during the period. Russell Investments Group Ltd. acquired a new position in Oric Pharmaceuticals during the third quarter worth $60,000. Finally, ANTIPODES PARTNERS Ltd lifted its holdings in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after purchasing an additional 1,372 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Price Performance

ORIC stock opened at $11.00 on Wednesday. The company has a market capitalization of $1.07 billion, a P/E ratio of -6.36 and a beta of 1.32. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The firm’s fifty day simple moving average is $12.44 and its 200-day simple moving average is $10.84.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.08. As a group, sell-side analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

About Oric Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.