Oric Pharmaceuticals (NASDAQ:ORIC) Coverage Initiated at Evercore ISI

Equities research analysts at Evercore ISI began coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report issued on Thursday,Benzinga reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Evercore ISI’s price target would indicate a potential upside of 117.77% from the stock’s previous close.

ORIC has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Guggenheim initiated coverage on shares of Oric Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $18.00 target price on the stock. Wall Street Zen raised shares of Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Friday, November 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Oric Pharmaceuticals Stock Down 3.5%

Shares of ORIC stock opened at $11.48 on Thursday. The firm has a 50 day moving average of $12.27 and a two-hundred day moving average of $10.28. The stock has a market capitalization of $1.12 billion, a PE ratio of -6.64 and a beta of 1.66. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) 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 Oric Pharmaceuticals news, 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 completion of the transaction, the chief executive officer owned 531,419 shares in the company, valued at $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated 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 directly owned 48,317 shares in the company, valued at approximately $701,562.84. The trade was a 18.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 261,000 shares of company stock valued at $3,024,703. 6.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. Nisa Investment Advisors LLC increased its holdings in shares of Oric Pharmaceuticals by 17,300.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after acquiring an additional 2,422 shares during the period. Assetmark Inc. acquired a new stake in Oric Pharmaceuticals during the 3rd quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. grew its position in Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after purchasing an additional 1,009 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in Oric Pharmaceuticals in the first quarter valued at $56,000. Hedge funds and other institutional investors 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.