Oric Pharmaceuticals’ (ORIC) Outperform Rating Reiterated at Wedbush

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

ORIC has been the topic of several other reports. JPMorgan Chase & Co. dropped their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright dropped their price target on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Guggenheim began coverage on Oric Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.29.

Oric Pharmaceuticals Price Performance

Shares of ORIC stock opened at $12.93 on Monday. The stock has a market capitalization of $1.26 billion, a PE ratio of -6.84 and a beta of 1.68. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The business has a 50-day moving average of $11.62 and a 200 day moving average of $9.52.

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

Insider Activity

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 37,461 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $12.32, for a total transaction of $461,519.52. Following the completion of the sale, the chief executive officer owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. The trade was a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dominic Piscitelli sold 11,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the sale, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at $701,562.84. This represents a 18.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 261,000 shares of company stock valued at $3,024,703 in the last three months. 6.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Oric Pharmaceuticals in the third quarter valued at about $120,000. SG Americas Securities LLC purchased a new position in shares of Oric Pharmaceuticals in the third quarter valued at about $216,000. KLP Kapitalforvaltning AS purchased a new position in shares of Oric Pharmaceuticals in the third quarter valued at about $85,000. Squarepoint Ops LLC purchased a new position in shares of Oric Pharmaceuticals in the second quarter valued at about $1,084,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Oric Pharmaceuticals by 1,293.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company’s stock valued at $119,000 after acquiring an additional 10,913 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

About Oric Pharmaceuticals

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.