Analysts Set Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $19.60

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $19.60.

Several equities analysts have recently weighed in on ORIC shares. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, May 15th. Stifel Nicolaus assumed coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a “buy” rating and a $14.00 target price for the company. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Friday, July 17th. Finally, Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th.

Insider Activity

In related news, CFO Dominic Piscitelli sold 77,000 shares of Oric Pharmaceuticals stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the completion of the sale, the chief financial officer owned 69,828 shares of the company’s stock, valued at approximately $955,945.32. This trade represents a 52.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in ORIC. Federation des caisses Desjardins du Quebec raised its holdings in shares of Oric Pharmaceuticals by 100.0% in 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. Caitong International Asset Management Co. Ltd boosted its stake in Oric Pharmaceuticals by 184.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock valued at $37,000 after purchasing an additional 2,936 shares during the last quarter. Quantbot Technologies LP acquired a new position in Oric Pharmaceuticals during the 2nd quarter valued at about $46,000. Russell Investments Group Ltd. bought a new stake in Oric Pharmaceuticals during the 3rd quarter worth approximately $60,000. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of Oric Pharmaceuticals in the third quarter worth approximately $65,000. 95.05% of the stock is owned by institutional investors.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC opened at $12.86 on Friday. Oric Pharmaceuticals has a one year low of $7.23 and a one year high of $14.93. The company has a market cap of $1.33 billion, a PE ratio of -9.53 and a beta of 1.00. The firm’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $10.82.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Equities research analysts expect that Oric Pharmaceuticals will post -1.53 EPS for the current year.

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.