Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Down After Analyst Downgrade

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price gapped down prior to trading on Wednesday after Wedbush lowered their price target on the stock from $20.00 to $17.00. The stock had previously closed at $12.67, but opened at $10.25. Wedbush currently has an outperform rating on the stock. Oric Pharmaceuticals shares last traded at $9.2510, with a volume of 2,218,391 shares traded.

Several other brokerages also recently commented on ORIC. Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a report on Monday, March 9th. Oppenheimer reiterated an “outperform” rating and issued a $15.00 price objective on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, January 22nd. Piper Sandler began coverage on Oric Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Oric Pharmaceuticals in a research note on Friday, March 13th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Oric Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $19.90.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 52,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total value of $702,520.00. Following the completion of the sale, the chief financial officer owned 68,148 shares in the company, valued at $920,679.48. The trade was a 43.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.82% of the company’s stock.

Oric Pharmaceuticals News Roundup

Here are the key news stories impacting Oric Pharmaceuticals this week:

• Positive Sentiment: Unusually large call buying — traders bought roughly 2,266 call contracts (a >2,000% increase vs. average), signaling speculative bullish interest or potential short‑covering that can amplify intraday upside.
• Positive Sentiment: HC Wainwright reaffirmed a “buy” and reiterated a $25 price target, providing institutional support and a high potential upside narrative for growth investors. HC Wainwright reaffirmation
• Neutral Sentiment: Oric announced selection of the recommended Phase 3 dose (RP3D) for rinzimetostat in combination with darolutamide and will advance the HIMALAYAS‑1 global Phase 3 study — a clinical program advancement that is structurally positive but comes with execution and safety readout risk. Phase 3 RP3D selection
• Negative Sentiment: Multiple reports noted the stock plunged after the Phase 1b update showed safety/tolerability issues at higher doses (investor reaction included steep intraday and after‑hours declines), raising concerns about dose optimization and commercial positioning. Yahoo coverage of drop Investing.com coverage
• Negative Sentiment: Wedbush trimmed its price target from $20 to $17 (still an “outperform”), a modestly less bullish signal that reflects tighter expectations around valuation given the recent safety/dose information. Wedbush price target change

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Corient Private Wealth LLC purchased a new position in Oric Pharmaceuticals in the 4th quarter worth approximately $102,000. Invesco Ltd. boosted its stake in shares of Oric Pharmaceuticals by 19.8% during the fourth quarter. Invesco Ltd. now owns 109,742 shares of the company’s stock valued at $898,000 after purchasing an additional 18,128 shares during the period. XTX Topco Ltd purchased a new stake in shares of Oric Pharmaceuticals during the fourth quarter valued at approximately $904,000. VARCOV Co. bought a new position in shares of Oric Pharmaceuticals in the fourth quarter worth approximately $262,000. Finally, Virtus Investment Advisers LLC grew its holdings in shares of Oric Pharmaceuticals by 141.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,361 shares of the company’s stock worth $232,000 after purchasing an additional 16,594 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Price Performance

The firm’s 50 day moving average is $11.56 and its 200 day moving average is $11.30. The company has a market capitalization of $892.20 million, a PE ratio of -5.85 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.04. As a group, analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

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.