HC Wainwright Forecasts Strong Price Appreciation for Oric Pharmaceuticals (NASDAQ:ORIC) Stock

Oric Pharmaceuticals (NASDAQ:ORIC) had its target price lifted by HC Wainwright from $23.00 to $25.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 100.29% from the stock’s current price.

A number of other equities analysts have also weighed in on ORIC. Citigroup reissued a “buy” rating on shares of Oric Pharmaceuticals in a research report on Tuesday. Wells Fargo & Company lifted their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Oppenheimer reiterated an “outperform” rating and issued a $15.00 target price on shares of Oric Pharmaceuticals in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, January 22nd. Finally, Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Tuesday. Eleven equities research 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. Based on data from MarketBeat, Oric Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $20.10.

Oric Pharmaceuticals Stock Performance

Shares of ORIC traded up $0.77 during mid-day trading on Tuesday, hitting $12.48. 1,949,278 shares of the company were exchanged, compared to its average volume of 1,559,109. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The company has a 50 day moving average of $9.98 and a 200-day moving average of $10.91. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -7.16 and a beta of 1.35.

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

Insider Activity

In related news, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the transaction, the insider owned 68,149 shares of the company’s stock, valued at approximately $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli 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 transaction of $97,123.20. Following the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 54,814 shares of company stock worth $496,615. 5.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Oric Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after acquiring an additional 977 shares during the period. 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 purchasing an additional 1,270 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Oric Pharmaceuticals by 2.9% in the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock valued at $497,000 after buying an additional 1,358 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares during the period. Finally, ProShare Advisors LLC increased its position in Oric Pharmaceuticals by 12.9% during the 3rd quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock worth $161,000 after purchasing an additional 1,527 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.