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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.60.

A number of research firms recently commented on ORIC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Friday, May 22nd. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a “buy” rating and a $14.00 target price for the company. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, May 15th. Finally, Benchmark reiterated a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th.

Oric Pharmaceuticals Trading Down 3.4%

Shares of ORIC stock opened at $12.07 on Friday. The stock has a market cap of $1.25 billion, a P/E ratio of -8.94 and a beta of 1.00. Oric Pharmaceuticals has a 1 year low of $7.23 and a 1 year high of $14.93. The stock has a 50 day simple moving average of $12.35 and a 200 day simple moving average of $10.87.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). Analysts forecast that Oric Pharmaceuticals will post -1.53 EPS for the current year.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. This represents a 52.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Oric Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in shares of Oric Pharmaceuticals by 3.9% during the fourth quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock worth $278,000 after buying an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Oric Pharmaceuticals by 1.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock valued at $1,042,000 after acquiring an additional 1,985 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in Oric Pharmaceuticals by 100.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after acquiring an additional 2,000 shares during the last quarter. Arizona State Retirement System increased its holdings in Oric Pharmaceuticals by 21.0% in the 4th quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock worth $99,000 after purchasing an additional 2,107 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in shares of Oric Pharmaceuticals by 0.9% during the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after purchasing an additional 2,166 shares in the last quarter. 95.05% of the stock is currently owned by institutional investors.

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.