Oric Pharmaceuticals (NASDAQ:ORIC) Releases Earnings Results, Misses Expectations By $0.03 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) issued its quarterly earnings data on Monday. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03), FiscalAI reports.

Oric Pharmaceuticals Price Performance

ORIC opened at $9.63 on Tuesday. Oric Pharmaceuticals has a 12 month low of $4.52 and a 12 month high of $14.93. The stock has a market capitalization of $996.90 million, a price-to-earnings ratio of -6.34 and a beta of 1.11. The business has a fifty day moving average price of $11.26 and a 200 day moving average price of $11.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, April 21st. Piper Sandler assumed coverage on Oric Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Oric Pharmaceuticals in a research note on Tuesday, February 24th. Wedbush lowered their target price on Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.90.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 52,000 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total transaction of $702,520.00. Following the completion of the sale, the chief financial officer directly owned 68,148 shares of the company’s stock, valued at $920,679.48. The trade was a 43.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.55% of the stock is owned by company insiders.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ORIC. AQR Capital Management LLC purchased a new stake in Oric Pharmaceuticals during the 1st quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Oric Pharmaceuticals by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock valued at $226,000 after purchasing an additional 3,131 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Oric Pharmaceuticals by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock valued at $1,645,000 after purchasing an additional 24,778 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Oric Pharmaceuticals by 1,331.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock valued at $2,841,000 after purchasing an additional 473,600 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Oric Pharmaceuticals by 56.0% in the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock valued at $174,000 after purchasing an additional 11,198 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.