Orbimed Advisors LLC lessened its stake in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC – Free Report) by 26.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,693,929 shares of the company’s stock after selling 947,827 shares during the period. Orbimed Advisors LLC’s holdings in Oric Pharmaceuticals were worth $34,132,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of ORIC. Vanguard Group Inc. grew its holdings in Oric Pharmaceuticals by 48.8% during the third 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 during the period. State Street Corp lifted its holdings in Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after acquiring an additional 1,854,458 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Oric Pharmaceuticals by 14.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock valued at $26,955,000 after acquiring an additional 423,795 shares during the period. Siren L.L.C. boosted its position in Oric Pharmaceuticals by 197.6% in the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock worth $37,987,000 after purchasing an additional 1,990,617 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Oric Pharmaceuticals in the 4th quarter worth approximately $19,642,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on ORIC shares. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a “buy” rating and a $14.00 target price for the company. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Citigroup dropped their price target on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, May 15th. Thirteen research 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 MarketBeat.com, Oric Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $19.27.
Oric Pharmaceuticals Stock Performance
Shares of ORIC stock opened at $12.10 on Monday. The company has a market capitalization of $1.25 billion, a P/E ratio of -8.40 and a beta of 1.02. The business’s 50 day moving average is $9.39 and its two-hundred day moving average is $10.31. Oric Pharmaceuticals, Inc. has a 12-month low of $7.23 and a 12-month high of $14.93.
Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). On average, research analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.
Oric Pharmaceuticals Company Profile
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.
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