Oric Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.25.
Several equities research analysts have recently issued reports on the company. HC Wainwright lifted their target price on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, October 15th. Wedbush dropped their price target on Oric Pharmaceuticals from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday. Wall Street Zen upgraded Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on Oric Pharmaceuticals from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th.
Read Our Latest Analysis on Oric Pharmaceuticals
Insider Activity
In other news, CFO Dominic Piscitelli sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $13.53, for a total transaction of $189,420.00. Following the completion of the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at approximately $944,772.84. This represents a 16.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 105,000 shares of company stock worth $1,432,952. 5.70% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd purchased a new position in shares of Oric Pharmaceuticals in the 2nd quarter worth $899,000. Defilade Capital Management L.P. bought a new stake in shares of Oric Pharmaceuticals in the 1st quarter worth about $10,680,000. Blue Owl Capital Holdings LP bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter worth about $4,332,000. Squarepoint Ops LLC purchased a new stake in shares of Oric Pharmaceuticals during the 2nd quarter valued at about $3,729,000. Finally, Bank of America Corp DE purchased a new stake in shares of Oric Pharmaceuticals during the 2nd quarter valued at about $11,675,000. 95.05% of the stock is owned by hedge funds and other institutional investors.
Oric Pharmaceuticals Stock Performance
ORIC opened at $9.30 on Friday. The stock has a market capitalization of $963.95 million, a price-to-earnings ratio of -6.89 and a beta of 0.99. The company has a fifty day moving average of $12.67 and a 200 day moving average of $11.15. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.68.
Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). On average, equities research analysts forecast that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.
About Oric Pharmaceuticals
Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing medicines that overcome mechanisms of treatment resistance in cancer. The company uses its discovery platform to identify therapies intended to improve or restore the effectiveness of existing cancer treatments.
Oric’s pipeline has included ORIC-533, an oral small-molecule inhibitor of CD73 designed to block adenosine-mediated immunosuppression in the tumor microenvironment. The company has evaluated the program in hematologic malignancies, including multiple myeloma.
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