Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) has been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.9167.

Several equities research analysts have recently issued reports on the stock. Wedbush decreased their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Finally, Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They set a “buy” rating and a $14.00 price target for the company.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $9.53 on Friday. The firm has a market cap of $986.55 million, a price-to-earnings ratio of -6.62 and a beta of 1.04. Oric Pharmaceuticals has a 52 week low of $7.23 and a 52 week high of $14.93. The firm has a 50-day moving average price of $8.87 and a two-hundred day moving average price of $9.99.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, sell-side analysts forecast that Oric Pharmaceuticals will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Oric Pharmaceuticals

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Oric Pharmaceuticals in the 1st quarter worth approximately $276,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Oric Pharmaceuticals by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company’s stock worth $226,000 after buying an additional 3,131 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Oric Pharmaceuticals by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company’s stock worth $1,645,000 after buying an additional 24,778 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Oric Pharmaceuticals by 1,331.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company’s stock worth $2,841,000 after buying an additional 473,600 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Oric Pharmaceuticals by 56.0% in the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company’s stock worth $174,000 after buying an additional 11,198 shares during the period. Hedge funds and other institutional investors 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.