Oric Pharmaceuticals’ (ORIC) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research report report published on Friday,RTT News reports. The brokerage currently has a $20.00 price target on the stock.

ORIC has been the topic of several other research reports. Guggenheim began coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright upped their price target on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, Wells Fargo & Company decreased their price objective on Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.14.

Oric Pharmaceuticals Stock Up 0.5%

Shares of ORIC stock opened at $12.25 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of -7.08 and a beta of 1.66. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93. The business has a 50 day moving average of $12.19 and a two-hundred day moving average of $10.12.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.08. Analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the completion of the sale, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the sale, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 261,000 shares of company stock worth $3,024,703 in the last three months. Company insiders own 6.82% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Oric Pharmaceuticals by 59.5% in the third quarter. Creative Planning now owns 17,694 shares of the company’s stock valued at $212,000 after purchasing an additional 6,599 shares in the last quarter. Orbimed Advisors LLC increased its position in Oric Pharmaceuticals by 305.0% in the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Oric Pharmaceuticals by 1,067.5% during the 3rd quarter. California State Teachers Retirement System now owns 32,689 shares of the company’s stock valued at $392,000 after purchasing an additional 29,889 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Oric Pharmaceuticals during the 3rd quarter worth about $279,000. Finally, UBS Group AG grew its stake in Oric Pharmaceuticals by 242.6% in the 3rd quarter. UBS Group AG now owns 339,236 shares of the company’s stock valued at $4,071,000 after buying an additional 240,230 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.