Oric Pharmaceuticals (NASDAQ:ORIC) Announces Earnings Results, Beats Expectations By $0.03 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) posted its earnings results on Monday. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03, FiscalAI reports.

Oric Pharmaceuticals Stock Up 5.4%

Oric Pharmaceuticals stock traded up $0.60 on Monday, hitting $11.71. The company’s stock had a trading volume of 1,443,085 shares, compared to its average volume of 1,549,911. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.93. The firm has a market cap of $1.14 billion, a P/E ratio of -6.77 and a beta of 1.35. The company has a fifty day moving average price of $9.93 and a 200-day moving average price of $10.90.

Insider Activity

In related news, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction dated 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 owned 68,148 shares of the company’s stock, valued at $617,420.88. The trade was a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the completion of the transaction, the insider directly owned 68,149 shares of the company’s stock, valued at $617,429.94. This trade represents a 13.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 54,814 shares of company stock worth $496,615. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orbimed Advisors LLC raised its stake in shares of Oric Pharmaceuticals by 305.0% in the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after acquiring an additional 2,742,475 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of Oric Pharmaceuticals during the fourth quarter valued at $19,642,000. State Street Corp boosted its holdings in Oric Pharmaceuticals by 77.1% in the fourth quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after acquiring an additional 1,854,458 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Oric Pharmaceuticals by 48.8% in the third 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 during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Oric Pharmaceuticals by 114.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,939,285 shares of the company’s stock worth $15,863,000 after purchasing an additional 1,034,473 shares during the period. 95.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

ORIC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Thursday, January 22nd. Wolfe Research assumed coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Oric Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $19.90.

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.