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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $19.2727.

A number of research firms recently issued reports on ORIC. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Wedbush dropped their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Finally, Citigroup cut their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th.

Oric Pharmaceuticals Price Performance

NASDAQ ORIC opened at $10.75 on Thursday. The business has a 50 day simple moving average of $9.26 and a 200 day simple moving average of $10.26. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.93. The stock has a market capitalization of $1.11 billion, a P/E ratio of -7.47 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Equities analysts expect that Oric Pharmaceuticals will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. Federation des caisses Desjardins du Quebec grew its stake in Oric Pharmaceuticals by 100.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after acquiring an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Oric Pharmaceuticals by 184.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock worth $37,000 after purchasing an additional 2,936 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Oric Pharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after purchasing an additional 977 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $60,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $65,000. 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.