Oric Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Misses Expectations By $0.02 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) posted its quarterly earnings results on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02), FiscalAI reports.

Oric Pharmaceuticals Price Performance

Shares of ORIC stock traded down $0.11 during trading hours on Wednesday, hitting $13.36. The company had a trading volume of 515,466 shares, compared to its average volume of 1,801,149. The stock has a market capitalization of $1.38 billion, a PE ratio of -9.28 and a beta of 1.02. The company’s fifty day moving average is $9.87 and its 200 day moving average is $10.43. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.93.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ORIC. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a research note on Friday, June 12th. They set a “buy” rating and a $14.00 price objective on the stock. Citigroup cut their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 8th. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, May 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in Oric Pharmaceuticals during the first quarter worth $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Oric Pharmaceuticals by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock valued at $226,000 after buying an additional 3,131 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Oric Pharmaceuticals by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock valued at $1,645,000 after buying an additional 24,778 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 buying an additional 473,600 shares during the period. Finally, Jane Street Group LLC raised 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 buying an additional 11,198 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.