Oric Pharmaceuticals (NASDAQ:ORIC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) issued its quarterly earnings data on Monday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04, FiscalAI reports.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock opened at $11.71 on Tuesday. The business has a 50-day simple moving average of $9.98 and a 200-day simple moving average of $10.91. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The company has a market cap of $1.14 billion, a PE ratio of -6.77 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ORIC shares. Wall Street Zen cut Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Wells Fargo & Company boosted their price target on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. Oppenheimer restated an “outperform” rating and issued a $15.00 price objective on shares of Oric Pharmaceuticals in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oric Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.90.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 33,374 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $302,368.44. Following the completion of the transaction, the chief executive officer owned 581,711 shares in the company, valued at $5,270,301.66. The trade was a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the sale, the insider directly owned 68,149 shares in the company, valued at approximately $617,429.94. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,814 shares of company stock worth $496,615 over the last 90 days. 5.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ORIC. AQR Capital Management LLC acquired a new stake in shares of Oric Pharmaceuticals during the 1st quarter worth about $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 purchasing an additional 3,131 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Oric Pharmaceuticals by 9.2% during the first quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock worth $1,645,000 after purchasing an additional 24,778 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Oric Pharmaceuticals by 1,331.1% during 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 worth $2,841,000 after buying an additional 473,600 shares during the last quarter. Finally, Jane Street Group LLC boosted 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 in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.