Oric Pharmaceuticals (NASDAQ:ORIC) Given Outperform Rating at Wedbush

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock. Wedbush’s price target indicates a potential upside of 118.58% from the stock’s previous close.

A number of other research firms also recently commented on ORIC. HC Wainwright increased their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 14th. Evercore ISI started coverage on shares of Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Citigroup upped their target price on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, Oppenheimer increased their target price on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Oric Pharmaceuticals Price Performance

NASDAQ ORIC opened at $9.15 on Tuesday. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93. The firm has a 50 day moving average of $10.23 and a two-hundred day moving average of $10.84. The stock has a market capitalization of $891.12 million, a PE ratio of -5.29 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data 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. On average, equities research analysts expect that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the insider directly owned 68,149 shares of the company’s stock, valued at approximately $617,429.94. This trade represents a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 10,720 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the sale, the chief financial officer directly owned 68,148 shares of the company’s stock, valued at approximately $617,420.88. This represents a 13.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,814 shares of company stock valued at $496,615 in the last ninety days. Insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Oric Pharmaceuticals by 36.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after purchasing an additional 1,009 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Oric Pharmaceuticals by 2.9% in the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after buying an additional 1,358 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Oric Pharmaceuticals by 12.9% during the 3rd quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after acquiring an additional 1,527 shares during the period. Finally, Woodline Partners LP boosted its stake in shares of Oric Pharmaceuticals by 0.9% during the 3rd quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock worth $2,958,000 after acquiring an additional 2,166 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.