Wall Street Zen Upgrades Oric Pharmaceuticals (NASDAQ:ORIC) to Sell

Oric Pharmaceuticals (NASDAQ:ORIC) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Citigroup lowered their target price on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Stifel Nicolaus initiated coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 price target for the company. Wedbush reduced their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Thirteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Oric Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $19.27.

Oric Pharmaceuticals Price Performance

Oric Pharmaceuticals stock opened at $12.10 on Friday. The firm has a 50 day simple moving average of $9.39 and a 200-day simple moving average of $10.29. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -8.40 and a beta of 1.02. Oric Pharmaceuticals has a 1-year low of $7.23 and a 1-year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Equities analysts expect that Oric Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after acquiring an additional 1,525,445 shares in the last quarter. State Street Corp lifted its position in shares of 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 purchasing an additional 1,854,458 shares in the last quarter. Orbimed Advisors LLC lifted its position in shares of Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Oric Pharmaceuticals by 14.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after purchasing an additional 423,795 shares in the last quarter. Finally, Siren L.L.C. boosted its stake in shares of Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after purchasing an additional 1,990,617 shares during the period. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.