Oric Pharmaceuticals (NASDAQ:ORIC) Rating Lowered to “Sell” at Wall Street Zen

Oric Pharmaceuticals (NASDAQ:ORIC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other research firms have also recently weighed in on ORIC. HC Wainwright boosted their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Friday, November 14th. Oppenheimer raised their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Citigroup boosted their target price on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Zacks Research raised shares of Oric Pharmaceuticals to a “hold” rating in a report on Tuesday, August 12th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.00.

Oric Pharmaceuticals Price Performance

Oric Pharmaceuticals stock opened at $11.79 on Friday. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The company’s fifty day moving average price is $12.32 and its two-hundred day moving average price is $10.45. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.81 and a beta of 1.66.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. As a group, sell-side analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 37,461 shares of Oric Pharmaceuticals stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $12.32, for a total transaction 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. The trade was a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.52, for a total value of $159,720.00. Following the transaction, the chief financial officer 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 SEC filing for this sale provides additional information. Insiders have sold 261,000 shares of company stock worth $3,024,703 in the last quarter. Corporate insiders own 6.82% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC grew its stake in Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after buying an additional 2,742,475 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after acquiring an additional 1,525,445 shares in the last quarter. MPM Bioimpact LLC bought a new stake in Oric Pharmaceuticals during the 1st quarter worth approximately $7,809,000. JPMorgan Chase & Co. increased its holdings in Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock valued at $13,555,000 after purchasing an additional 1,299,799 shares in the last quarter. Finally, Royce & Associates LP raised its position in Oric Pharmaceuticals by 521.2% in the 3rd quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after purchasing an additional 1,223,709 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

About Oric Pharmaceuticals

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.