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

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $20.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 77.78% from the company’s previous close.

A number of other brokerages have also recently issued reports on ORIC. JPMorgan Chase & Co. increased their target price on Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Citigroup raised their price objective on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Evercore ISI began coverage on shares of Oric Pharmaceuticals in a report on Thursday, November 20th. They set an “outperform” rating and a $25.00 price objective for the company. Wolfe Research began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $19.90.

Oric Pharmaceuticals Trading Up 10.9%

NASDAQ:ORIC opened at $11.25 on Tuesday. Oric Pharmaceuticals has a 12 month low of $3.90 and a 12 month high of $14.93. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -6.50 and a beta of 1.36. The firm has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $10.85.

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

Insider Activity

In related news, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the transaction, the insider owned 68,149 shares in the company, valued at approximately $617,429.94. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dominic Piscitelli sold 10,720 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the transaction, the chief financial officer owned 68,148 shares in the company, valued at approximately $617,420.88. The trade was a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,814 shares of company stock valued at $496,615 over the last three months. Corporate insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Oric Pharmaceuticals by 17,300.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 2,422 shares during the period. Assetmark Inc. purchased a new stake in Oric Pharmaceuticals in the 3rd quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after acquiring an additional 1,372 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Oric Pharmaceuticals during the third quarter valued at about $60,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

About Oric Pharmaceuticals

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.