Oric Pharmaceuticals (NASDAQ:ORIC) Receives Outperform Rating from Wedbush

by · The Cerbat Gem

Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research note issued on Monday,Benzinga reports. They presently have a $20.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 81.87% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Oppenheimer boosted their price target on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Wall Street Zen cut Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Citigroup raised their price target on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a report on Tuesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.67.

View Our Latest Stock Analysis on Oric Pharmaceuticals

Oric Pharmaceuticals Stock Down 0.0%

Shares of Oric Pharmaceuticals stock traded down $0.00 during trading on Monday, reaching $11.00. The company’s stock had a trading volume of 482,759 shares, compared to its average volume of 1,162,665. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.19 and a beta of 1.32. The firm’s 50-day moving average is $12.44 and its two-hundred day moving average is $10.84. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last released its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. On average, equities research analysts anticipate that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the transaction, the chief executive officer owned 531,419 shares in the company, valued at $6,547,082.08. The trade was a 6.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total transaction of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This represents a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 261,000 shares of company stock worth $3,024,703 over the last three months. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rafferty Asset Management LLC lifted its holdings in shares of Oric Pharmaceuticals by 50.7% during the first quarter. Rafferty Asset Management LLC now owns 77,424 shares of the company’s stock valued at $432,000 after purchasing an additional 26,032 shares in the last quarter. Nuveen LLC bought a new position in Oric Pharmaceuticals during the 1st quarter valued at about $935,000. Swiss National Bank boosted its holdings in shares of Oric Pharmaceuticals by 9.6% during the 1st quarter. Swiss National Bank now owns 68,400 shares of the company’s stock valued at $382,000 after acquiring an additional 6,000 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Oric Pharmaceuticals in the first quarter worth approximately $425,000. Finally, MPM Bioimpact LLC purchased a new position in shares of Oric Pharmaceuticals during the first quarter valued at approximately $7,809,000. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

(Get Free Report)

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.

Read More