Oric Pharmaceuticals (NASDAQ:ORIC) Stock Rating Reaffirmed as Buy by BTIG Research

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “buy” rating reaffirmed by BTIG Research in a report released on Wednesday, Benzinga reports. They presently have a $26.00 target price on the stock. BTIG Research‘s target price would suggest a potential upside of 198.68% from the company’s previous close.

A number of other brokerages have also weighed in on ORIC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, October 15th. Wedbush decreased their price target on shares of Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday. Stifel Nicolaus lifted their price target on shares of Oric Pharmaceuticals from $14.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Leerink Partners started coverage on shares of Oric Pharmaceuticals in a report on Monday, October 5th. They issued an “outperform” rating and a $26.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Oric Pharmaceuticals Trading Down 3.3%

Shares of ORIC opened at $8.71 on Wednesday. The company’s fifty day moving average is $12.76 and its two-hundred day moving average is $11.15. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced 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). As a group, equities analysts forecast that Oric Pharmaceuticals will post -1.53 EPS for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 14,000 shares of Oric Pharmaceuticals stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $13.53, for a total transaction of $189,420.00. Following the sale, the chief financial officer owned 69,828 shares of the company’s stock, valued at $944,772.84. The trade was a 16.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 105,000 shares of company stock worth $1,432,952. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Oric Pharmaceuticals during the 2nd quarter worth $73,904,000. Siren L.L.C. increased its stake in Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after buying an additional 1,990,617 shares during the period. Dimensional Fund Advisors LP increased its stake in Oric Pharmaceuticals by 19.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock worth $18,637,000 after buying an additional 244,060 shares during the period. Bank of America Corp DE increased its stake in Oric Pharmaceuticals by 105.5% during the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock worth $13,217,000 after buying an additional 535,649 shares during the period. Finally, Algert Global LLC increased its stake in Oric Pharmaceuticals by 791.3% during the 2nd quarter. Algert Global LLC now owns 1,215,293 shares of the company’s stock worth $13,162,000 after buying an additional 1,078,943 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.