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

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 49.25% from the company’s current price.

ORIC has been the topic of several other reports. Citigroup boosted their price objective on Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore started coverage on Oric Pharmaceuticals in a research note on Thursday, November 20th. They set an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Wells Fargo & Company lifted their price objective on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Finally, HC Wainwright upped their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.20.

Oric Pharmaceuticals Price Performance

Shares of NASDAQ:ORIC opened at $13.40 on Tuesday. The company has a market capitalization of $1.34 billion, a P/E ratio of -8.82 and a beta of 1.35. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The firm’s 50 day simple moving average is $10.17 and its two-hundred day simple moving average is $10.96.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, sell-side analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 33,374 shares of Oric Pharmaceuticals stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $302,368.44. Following the completion of the transaction, the chief executive officer directly owned 581,711 shares of the company’s stock, valued at $5,270,301.66. This trade represents a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Pratik S. Multani sold 10,720 shares of the company’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 sale, the insider owned 68,149 shares in the company, valued at $617,429.94. This represents a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,814 shares of company stock valued at $496,615 in the last three months. Corporate insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Oric Pharmaceuticals by 17,300.0% during 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 last quarter. Assetmark Inc. bought a new stake in Oric Pharmaceuticals in the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Oric Pharmaceuticals by 36.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after buying an additional 1,009 shares during the period. Federation des caisses Desjardins du Quebec increased its position in Oric Pharmaceuticals by 100.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Oric Pharmaceuticals by 184.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock valued at $37,000 after acquiring an additional 2,936 shares during the last quarter. 95.05% of the stock is owned by institutional investors.

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.