Oric Pharmaceuticals (NASDAQ:ORIC) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $25.00 target price on the stock.

A number of other brokerages have also recently issued reports on ORIC. Wolfe Research started coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Monday. Evercore assumed coverage on Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an “outperform” rating and a $25.00 price objective for the company. Piper Sandler assumed coverage on Oric Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Wells Fargo & Company raised 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 investment 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. According to MarketBeat, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Oric Pharmaceuticals Price Performance

Shares of ORIC opened at $11.90 on Friday. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The stock has a market cap of $1.19 billion, a PE ratio of -7.83 and a beta of 1.28. The firm has a fifty day moving average price of $11.32 and a 200 day moving average price of $11.23.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. As a group, equities analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 52,000 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total value of $702,520.00. Following the transaction, the chief financial officer owned 68,148 shares in the company, valued at $920,679.48. The trade was a 43.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Pratik S. Multani 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 insider directly owned 68,149 shares of the company’s stock, valued at approximately $617,429.94. This represents a 13.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 106,814 shares of company stock worth $1,199,135 in the last quarter. Company insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several large investors have recently modified their holdings of ORIC. Vanguard Group Inc. lifted its holdings in shares of Oric Pharmaceuticals by 48.8% during the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after purchasing an additional 1,525,445 shares during the period. Alkeon Capital Management LLC increased its stake in Oric Pharmaceuticals by 12.5% in the 2nd quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock valued at $45,717,000 after buying an additional 500,000 shares during the period. State Street Corp increased its stake in Oric Pharmaceuticals by 77.1% in the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after buying an additional 1,854,458 shares during the period. Orbimed Advisors LLC raised its position in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after buying an additional 2,742,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Oric Pharmaceuticals by 14.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after buying an additional 423,795 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

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.