Oric Pharmaceuticals (NASDAQ:ORIC) Now Covered by Analysts at Leerink Partners

Leerink Partners started coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research note published on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $26.00 price objective on the stock.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a “buy” rating and a $14.00 price objective on the stock. HC Wainwright raised their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Finally, BTIG Research started coverage on Oric Pharmaceuticals in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $12.49 on Monday. The firm’s 50 day simple moving average is $12.99 and its 200 day simple moving average is $10.87. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.93. The company has a market cap of $1.29 billion, a PE ratio of -9.25 and a beta of 0.99.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Equities research analysts expect that Oric Pharmaceuticals will post -1.53 EPS for the current year.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 13,400 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $13.53, for a total transaction of $181,302.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares in the company, valued at approximately $944,772.84. This trade represents a 16.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 91,000 shares of company stock worth $1,243,532 over the last quarter. Corporate insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Defilade Capital Management L.P. acquired a new position in shares of Oric Pharmaceuticals during the 1st quarter valued at $10,680,000. Squarepoint Ops LLC acquired a new stake in Oric Pharmaceuticals in the second quarter worth $3,729,000. Blue Owl Capital Holdings LP acquired a new stake in Oric Pharmaceuticals in the second quarter worth $4,332,000. Siren L.L.C. increased its stake in Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after purchasing an additional 1,990,617 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in Oric Pharmaceuticals in the second quarter valued at $899,000. 95.05% of the stock is owned by institutional investors.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research is centered on mechanisms that enable tumors to resist or evade treatment, with the goal of restoring sensitivity to established cancer therapies and improving patient outcomes.

Oric’s pipeline has included investigational small-molecule therapies designed to target cancer biology and treatment resistance. These programs include ORIC-533, an oral inhibitor of CD73 being studied in oncology, and ORIC-944, an oral allosteric inhibitor of EED, a component of the polycomb repressive complex 2.