Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Average Rating of “Moderate Buy” from Analysts

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has earned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.18.

Several research firms have recently issued reports on ORIC. Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. BTIG Research assumed coverage on shares of Oric Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 price target on the stock. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a “buy” rating and a $14.00 price target on the stock. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th.

Oric Pharmaceuticals Price Performance

NASDAQ ORIC opened at $12.20 on Tuesday. Oric Pharmaceuticals has a 1-year low of $7.23 and a 1-year high of $14.93. The company has a market capitalization of $1.26 billion, a P/E ratio of -9.04 and a beta of 0.99. The business has a 50 day moving average price of $12.98 and a 200 day moving average price of $10.88.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data 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). On average, research analysts expect that Oric Pharmaceuticals will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 77,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total value of $1,054,130.00. Following the completion of the transaction, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at $955,945.32. The trade was a 52.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,000 shares of company stock valued at $1,243,532 over the last ninety days. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Oric Pharmaceuticals during the 2nd quarter worth about $73,904,000. Siren L.L.C. raised its position in shares of 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 buying an additional 1,990,617 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Oric Pharmaceuticals by 19.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock valued at $18,637,000 after buying an additional 244,060 shares during the period. Bank of America Corp DE lifted its stake in shares of Oric Pharmaceuticals by 105.5% during the first quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock valued at $13,217,000 after buying an additional 535,649 shares during the period. Finally, Algert Global LLC boosted its position in Oric Pharmaceuticals by 791.3% during the second quarter. Algert Global LLC now owns 1,215,293 shares of the company’s stock worth $13,162,000 after acquiring an additional 1,078,943 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 (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.