Wedbush Has Lowered Expectations for Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective lowered by investment analysts at Wedbush from $20.00 to $17.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 91.23% from the company’s previous close.

Several other brokerages also recently commented on ORIC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, January 22nd. Citigroup boosted their target price on Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Monday, March 9th. Oppenheimer reaffirmed an “outperform” rating and set a $15.00 price target on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company lifted their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Eleven equities research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Stock Performance

Shares of NASDAQ ORIC opened at $8.89 on Wednesday. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93. The stock has a market cap of $892.20 million, a P/E ratio of -5.85 and a beta of 1.36. The firm has a 50 day moving average price of $11.56 and a 200 day moving average price of $11.30.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. Analysts predict that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the sale, the chief financial officer owned 68,148 shares of the company’s stock, valued at $920,679.48. The trade was a 43.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORIC. Orbimed Advisors LLC boosted its stake in shares of Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after buying an additional 2,742,475 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new stake in shares of Oric Pharmaceuticals in the fourth quarter valued at about $19,642,000. State Street Corp raised its holdings in Oric Pharmaceuticals by 77.1% during the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock worth $34,834,000 after acquiring an additional 1,854,458 shares in the last quarter. Vanguard Group Inc. raised its holdings in Oric Pharmaceuticals by 48.8% during the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after acquiring an additional 1,525,445 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Oric Pharmaceuticals by 3,646.1% during the second quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock valued at $13,555,000 after purchasing an additional 1,299,799 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Oric Pharmaceuticals

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

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.