Leerink Partners assumed coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) in a report released on Monday, MarketBeat reports. The brokerage set an “outperform” rating and a $26.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 117.03% from the stock’s current price.
Several other equities analysts have also recently issued reports on the stock. HC Wainwright boosted their price target on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, August 10th. BTIG Research began coverage on Oric Pharmaceuticals in a research report on Wednesday, September 23rd. They set a “buy” rating and a $26.00 price objective for the company. Stifel Nicolaus began coverage on Oric Pharmaceuticals in a report on Friday, June 12th. They issued a “buy” rating and a $14.00 target price on the stock. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.67.
Read Our Latest Stock Analysis on Oric Pharmaceuticals
Oric Pharmaceuticals Stock Down 4.1%
Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Sell-side analysts expect that Oric Pharmaceuticals will post -1.53 EPS for the current fiscal year.
Insider Transactions at Oric Pharmaceuticals
In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. The trade was a 52.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 90 days. Company insiders own 5.70% of the company’s stock.
Institutional Trading of Oric Pharmaceuticals
Several large investors have recently added to or reduced their stakes in ORIC. BlackRock Inc. bought a new stake in shares of Oric Pharmaceuticals during the 2nd quarter valued at $73,904,000. Siren L.L.C. raised its holdings 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 during the period. Algert Global LLC lifted 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 valued at $13,162,000 after purchasing an additional 1,078,943 shares in the last quarter. Bank of America Corp DE purchased a new position in Oric Pharmaceuticals during the second quarter valued at $11,675,000. Finally, Defilade Capital Management L.P. bought a new stake in Oric Pharmaceuticals during the first quarter valued at about $10,680,000. 95.05% of the stock is currently owned by institutional investors.
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.
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