Oric Pharmaceuticals’ (ORIC) “Buy” Rating Reiterated at BTIG Research

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They currently have a $26.00 price objective on the stock. BTIG Research‘s price target would suggest a potential upside of 188.89% from the stock’s current price.

A number of other equities analysts also recently commented on ORIC. Stifel Nicolaus raised their price objective on shares of Oric Pharmaceuticals from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Wedbush lowered their target price on shares of Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Leerink Partners initiated coverage on shares of Oric Pharmaceuticals in a research report on Monday, October 5th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, October 15th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.25.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $9.00 on Wednesday. The business has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $11.15. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). Analysts predict that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total value of $189,420.00. Following the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at $944,772.84. The trade was a 16.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 105,000 shares of company stock valued at $1,432,952. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of large investors have recently bought and sold shares of ORIC. WINTON GROUP Ltd acquired a new position in Oric Pharmaceuticals in the second quarter worth $899,000. Defilade Capital Management L.P. bought a new stake in shares of Oric Pharmaceuticals during the first quarter worth $10,680,000. Blue Owl Capital Holdings LP bought a new stake in shares of Oric Pharmaceuticals during the second quarter worth $4,332,000. Squarepoint Ops LLC bought a new stake in shares of Oric Pharmaceuticals during the second quarter worth $3,729,000. Finally, Bank of America Corp DE acquired a new stake in shares of Oric Pharmaceuticals in the second quarter valued at $11,675,000. 95.05% of the stock is currently owned by institutional investors.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.

Oric’s pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.