Oric Pharmaceuticals (NASDAQ:ORIC) Now Covered by Analysts at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH assumed coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $15.00 price target on the stock.

A number of other equities research analysts have also issued reports on ORIC. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Oppenheimer cut their price objective on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Finally, Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.57.

Oric Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ ORIC opened at $10.43 on Tuesday. Oric Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.67. The business has a 50 day moving average price of $7.90 and a two-hundred day moving average price of $7.82. The firm has a market cap of $888.84 million, a PE ratio of -5.58 and a beta of 1.54.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.09. On average, analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Dominic Piscitelli sold 32,466 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the sale, the chief financial officer directly owned 68,317 shares in the company, valued at $717,328.50. This trade represents a 32.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Angie You purchased 26,597 shares of the business’s stock in a transaction on Friday, June 20th. The shares were bought at an average price of $9.39 per share, with a total value of $249,745.83. Following the purchase, the director directly owned 26,597 shares in the company, valued at approximately $249,745.83. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $416,289 in the last three months. Insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Oric Pharmaceuticals by 34.0% in the 4th 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 during the period. Dimensional Fund Advisors LP grew its position in Oric Pharmaceuticals by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company’s stock worth $5,788,000 after acquiring an additional 103,237 shares in the last quarter. Wellington Management Group LLP grew its position in Oric Pharmaceuticals by 6.9% in the fourth quarter. Wellington Management Group LLP now owns 186,430 shares of the company’s stock worth $1,504,000 after acquiring an additional 12,042 shares in the last quarter. Sphera Funds Management LTD. grew its position in Oric Pharmaceuticals by 112.8% in the fourth quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company’s stock worth $2,205,000 after acquiring an additional 144,817 shares in the last quarter. Finally, Diadema Partners LP purchased a new stake in Oric Pharmaceuticals during the fourth quarter valued at about $1,729,000. 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.