Brokerages Set Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Price Target at $17.29

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $17.2857.

A number of research analysts have recently commented on ORIC shares. LADENBURG THALM/SH SH started coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. Guggenheim assumed coverage on shares of Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $18.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. Finally, HC Wainwright lowered their price objective on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 125,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $10.80, for a total value of $1,350,000.00. Following the sale, the chief executive officer owned 656,419 shares of the company’s stock, valued at approximately $7,089,325.20. The trade was a 16.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dominic Piscitelli sold 11,000 shares of Oric Pharmaceuticals stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $14.52, for a total value of $159,720.00. Following the transaction, the chief financial officer directly owned 48,317 shares in the company, valued at approximately $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,000 shares of company stock worth $3,024,703. 6.82% of the stock is owned by insiders.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. MPM Bioimpact LLC acquired a new position in Oric Pharmaceuticals in the first quarter worth approximately $7,809,000. JPMorgan Chase & Co. boosted its stake in shares of Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after acquiring an additional 1,299,799 shares in the last quarter. Vivo Capital LLC grew its holdings in shares of Oric Pharmaceuticals by 50.3% in the 2nd quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after acquiring an additional 1,046,154 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in shares of Oric Pharmaceuticals during the second quarter worth $9,657,000. Finally, Alkeon Capital Management LLC raised its position in shares of Oric Pharmaceuticals by 12.5% during the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after purchasing an additional 500,000 shares during the period. 95.05% of the stock is owned by institutional investors and hedge funds.

Oric Pharmaceuticals Trading Down 3.9%

Shares of NASDAQ:ORIC opened at $12.78 on Tuesday. The firm’s 50 day moving average is $11.12 and its two-hundred day moving average is $9.03. The firm has a market capitalization of $1.24 billion, a P/E ratio of -6.76 and a beta of 1.68. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). Analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

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.