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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been given an average rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.2727.

A number of research firms have issued reports on ORIC. Citigroup cut their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, May 15th. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Finally, Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They set a “buy” rating and a $14.00 target price for the company.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Defilade Capital Management L.P. bought a new position in Oric Pharmaceuticals in the 1st quarter worth approximately $10,680,000. Bank of America Corp DE increased its position in Oric Pharmaceuticals by 105.5% in the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock valued at $13,217,000 after acquiring an additional 535,649 shares during the period. California State Teachers Retirement System raised its stake in Oric Pharmaceuticals by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 48,369 shares of the company’s stock valued at $613,000 after acquiring an additional 14,410 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Oric Pharmaceuticals by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 182,139 shares of the company’s stock valued at $2,308,000 after acquiring an additional 53,490 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in Oric Pharmaceuticals by 9.3% during the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock worth $323,000 after acquiring an additional 2,170 shares during the period. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Trading Up 5.6%

Shares of NASDAQ ORIC opened at $11.14 on Thursday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -7.74 and a beta of 1.02. Oric Pharmaceuticals has a 12-month low of $7.23 and a 12-month high of $14.93. The stock’s 50 day simple moving average is $9.07 and its 200 day simple moving average is $10.17.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). As a group, equities analysts forecast that Oric Pharmaceuticals will post -1.45 earnings per share 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.