Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.3636.

ORIC has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday. Citigroup lowered their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Wall Street Zen downgraded Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. The Goldman Sachs Group upgraded Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, May 15th. Finally, Oppenheimer reiterated an “outperform” rating and set a $15.00 price objective on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th.

Oric Pharmaceuticals Trading Up 2.6%

NASDAQ:ORIC opened at $8.54 on Wednesday. The firm has a market capitalization of $884.06 million, a PE ratio of -5.93 and a beta of 1.11. The stock has a 50 day moving average of $9.90 and a 200-day moving average of $10.53. Oric Pharmaceuticals has a 52 week low of $5.51 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, analysts predict that Oric Pharmaceuticals will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. acquired a new position in shares of Oric Pharmaceuticals during the third quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 boosted its position in shares of 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 worth $33,000 after buying an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 worth $37,000 after buying an additional 2,936 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Oric Pharmaceuticals during the third quarter worth approximately $60,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.