Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $20.20 Average Target Price from Brokerages
by Mitch Edgeman · The Markets DailyOric Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.20.
A number of research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Oppenheimer reiterated an “outperform” rating and issued a $15.00 price objective on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Monday, March 9th. Wells Fargo & Company upped their target price on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, Citigroup raised their price target on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 24th.
Get Our Latest Stock Analysis on ORIC
Insiders Place Their Bets
In related news, CFO Dominic Piscitelli sold 52,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the sale, the chief financial officer owned 68,148 shares in the company, valued at approximately $920,679.48. This trade represents a 43.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.82% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Oric Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new position in shares of Oric Pharmaceuticals during the 4th quarter valued at $102,000. Invesco Ltd. boosted its stake in shares of Oric Pharmaceuticals by 19.8% in 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 last quarter. XTX Topco Ltd bought a new stake in shares of Oric Pharmaceuticals in the fourth quarter worth $904,000. VARCOV Co. purchased a new stake in Oric Pharmaceuticals during the fourth quarter valued at $262,000. Finally, Virtus Investment Advisers LLC increased its position in Oric Pharmaceuticals by 141.0% during the fourth quarter. Virtus Investment Advisers LLC now owns 28,361 shares of the company’s stock valued at $232,000 after acquiring an additional 16,594 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.
Oric Pharmaceuticals Stock Up 2.2%
Shares of ORIC opened at $11.10 on Friday. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93. The company has a market capitalization of $1.11 billion, a P/E ratio of -7.30 and a beta of 1.28. The firm has a 50 day moving average of $11.57 and a 200 day moving average of $11.27.
Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. On average, sell-side analysts expect that Oric Pharmaceuticals will post -2.17 EPS for the current year.
About Oric Pharmaceuticals
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.