Oric Pharmaceuticals (NASDAQ:ORIC) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a research note released on Monday,RTT News reports. The firm currently has a $20.00 price target on the stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on Oric Pharmaceuticals from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Oppenheimer cut their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Guggenheim restated a “buy” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, February 26th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Oric Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $19.17.

Oric Pharmaceuticals Stock Performance

ORIC stock opened at $10.23 on Monday. The company has a market capitalization of $871.80 million, a price-to-earnings ratio of -5.47 and a beta of 1.49. Oric Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.67. The stock has a fifty day moving average of $6.93 and a 200-day moving average of $7.70.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.09. Equities analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, Director Angie You acquired 26,597 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was bought at an average price of $9.39 per share, with a total value of $249,745.83. Following the completion of the acquisition, the director now owns 26,597 shares of the company’s stock, valued at $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 2,976 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $10.01, for a total value of $29,789.76. Following the transaction, the chief financial officer now directly owns 102,117 shares of the company’s stock, valued at $1,022,191.17. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock valued at $416,289. 6.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Oric Pharmaceuticals by 34.0% during the fourth quarter. Bank of America Corp DE now owns 112,520 shares of the company’s stock worth $908,000 after purchasing an additional 28,570 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Oric Pharmaceuticals by 16.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company’s stock worth $5,788,000 after buying an additional 103,237 shares during the last quarter. Wellington Management Group LLP lifted its position in Oric Pharmaceuticals by 6.9% in the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock worth $1,504,000 after buying an additional 12,042 shares during the last quarter. Sphera Funds Management LTD. lifted its position in Oric Pharmaceuticals by 112.8% in the 4th quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock worth $2,205,000 after buying an additional 144,817 shares during the last quarter. Finally, Diadema Partners LP bought a new stake in Oric Pharmaceuticals in the 4th quarter worth approximately $1,729,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.