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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.90.

A number of research firms have recently weighed in on ORIC. Wall Street Zen downgraded shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, January 22nd. Wolfe Research began coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company upped their target price on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, Citigroup lifted their price target on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 17th.

Insider Transactions at Oric Pharmaceuticals

In other news, insider Pratik S. Multani sold 10,720 shares of Oric Pharmaceuticals stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the transaction, the insider owned 68,149 shares in the company, valued at approximately $617,429.94. This trade represents a 13.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total value of $97,123.20. Following the sale, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $617,420.88. This represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 54,814 shares of company stock worth $496,615. 5.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Oric Pharmaceuticals by 19.8% in the fourth quarter. Invesco Ltd. now owns 109,742 shares of the company’s stock worth $898,000 after acquiring an additional 18,128 shares during the last quarter. Corient Private Wealth LLC bought a new stake in shares of Oric Pharmaceuticals in the 4th quarter worth approximately $102,000. XTX Topco Ltd acquired a new position in Oric Pharmaceuticals during the 4th quarter valued at approximately $904,000. VARCOV Co. bought a new position in Oric Pharmaceuticals during the 4th quarter worth $262,000. Finally, Virtus Investment Advisers LLC increased its position in 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 buying an additional 16,594 shares during the period. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Stock Down 1.9%

Shares of NASDAQ ORIC opened at $11.11 on Monday. Oric Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.93. The business has a 50 day moving average price of $9.93 and a two-hundred day moving average price of $10.90. The firm has a market cap of $1.08 billion, a PE ratio of -6.42 and a beta of 1.35.

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.