Oric Pharmaceuticals (NASDAQ:ORIC) Earns “Outperform” Rating from Wedbush

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reaffirmed by Wedbush in a note issued to investors on Monday,Benzinga reports. They currently have a $20.00 price target on the stock. Wedbush’s target price suggests a potential upside of 97.24% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Wolfe Research began coverage on Oric Pharmaceuticals in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lifted their target price on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday. Oppenheimer upped their price target on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 14th. JPMorgan Chase & Co. increased their price target on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Finally, Citigroup boosted their price objective on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Oric Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Oric Pharmaceuticals Stock Down 3.6%

NASDAQ ORIC opened at $10.14 on Monday. The company has a 50-day simple moving average of $12.38 and a two-hundred day simple moving average of $10.90. Oric Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.93. The firm has a market cap of $987.53 million, a price-to-earnings ratio of -5.86 and a beta of 1.32.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.08. Equities analysts expect that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the sale, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Chacko sold 125,000 shares of Oric Pharmaceuticals stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the sale, the chief executive officer directly owned 656,419 shares in the company, valued at $7,089,325.20. The trade was a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 261,000 shares of company stock valued at $3,024,703 over the last 90 days. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 2,422 shares during the period. Assetmark Inc. purchased a new stake in Oric Pharmaceuticals in the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Oric Pharmaceuticals by 36.7% in the third 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 in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Oric Pharmaceuticals during the third quarter valued at approximately $60,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

About Oric Pharmaceuticals

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.