Oric Pharmaceuticals (NASDAQ:ORIC) Raised to “Sell” at Wall Street Zen

Oric Pharmaceuticals (NASDAQ:ORIC) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Citigroup decreased their target price 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. Wedbush lowered their price target on shares of 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, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $12.10 on Friday. The business has a 50 day moving average of $9.39 and a 200 day moving average of $10.31. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -8.40 and a beta of 1.02. Oric Pharmaceuticals has a 1-year low of $7.23 and a 1-year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). As a group, sell-side analysts anticipate that Oric Pharmaceuticals will post -1.45 EPS for the current year.

Institutional Investors Weigh In On Oric Pharmaceuticals

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