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

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.2727.

Several research analysts have recently weighed in on ORIC shares. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Citigroup dropped their price objective on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Tuesday, April 21st. The Goldman Sachs Group raised Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, May 15th. Finally, Wedbush lowered their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st.

Oric Pharmaceuticals Stock Down 2.9%

Shares of ORIC opened at $10.42 on Thursday. Oric Pharmaceuticals has a twelve month low of $7.23 and a twelve month high of $14.93. The company has a market capitalization of $1.08 billion, a P/E ratio of -7.24 and a beta of 1.02. The firm has a 50 day moving average of $9.17 and a 200 day moving average of $10.23.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data 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). On average, sell-side analysts expect that Oric Pharmaceuticals will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Defilade Capital Management L.P. bought a new position in Oric Pharmaceuticals during the first quarter valued at approximately $10,680,000. Bank of America Corp DE raised its stake in Oric Pharmaceuticals by 105.5% during the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company’s stock valued at $13,217,000 after buying an additional 535,649 shares during the last quarter. California State Teachers Retirement System raised its stake in Oric Pharmaceuticals by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 48,369 shares of the company’s stock valued at $613,000 after buying an additional 14,410 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Oric Pharmaceuticals by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 182,139 shares of the company’s stock valued at $2,308,000 after buying an additional 53,490 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Oric Pharmaceuticals by 9.3% during the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock valued at $323,000 after buying an additional 2,170 shares during the period. 95.05% of the stock is owned by hedge funds and other 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.