Oric Pharmaceuticals’ (ORIC) “Outperform” Rating Reiterated at Wedbush

Oric Pharmaceuticals (NASDAQ:ORIC)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report released on Tuesday,Benzinga reports. They presently have a $20.00 target price on the stock. Wedbush’s price objective points to a potential upside of 70.79% from the company’s current price.

ORIC has been the topic of several other research reports. Wells Fargo & Company boosted their price target on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Thursday, January 22nd. Citigroup reiterated a “buy” rating on shares of Oric Pharmaceuticals in a report on Tuesday. HC Wainwright raised their target price on Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Wolfe Research assumed coverage on Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.90.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $11.71 on Tuesday. The stock’s 50 day simple moving average is $9.98 and its 200-day simple moving average is $10.91. The stock has a market cap of $1.14 billion, a P/E ratio of -6.77 and a beta of 1.35. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. As a group, research analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CEO Jacob Chacko sold 33,374 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the sale, the chief executive officer owned 581,711 shares in the company, valued at approximately $5,270,301.66. The trade was a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $617,420.88. The trade was a 13.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 54,814 shares of company stock valued at $496,615 over the last quarter. 5.55% of the stock is owned by company insiders.

Institutional Trading of Oric Pharmaceuticals

Several hedge funds have recently made changes to their positions in ORIC. Invesco Ltd. increased its stake in Oric Pharmaceuticals by 19.8% during the 4th quarter. Invesco Ltd. now owns 109,742 shares of the company’s stock worth $898,000 after buying an additional 18,128 shares during the period. Corient Private Wealth LLC acquired a new position in shares of Oric Pharmaceuticals in the fourth quarter worth $102,000. XTX Topco Ltd purchased a new stake in shares of Oric Pharmaceuticals during the fourth quarter worth $904,000. VARCOV Co. acquired a new stake in shares of Oric Pharmaceuticals in the fourth quarter valued at $262,000. Finally, Virtus Investment Advisers LLC boosted its holdings in Oric Pharmaceuticals by 141.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,361 shares of the company’s stock valued at $232,000 after purchasing an additional 16,594 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.