Oric Pharmaceuticals (NASDAQ:ORIC) Coverage Initiated by Analysts at Leerink Partners

Key Points

• Leerink Partners initiated coverage of Oric Pharmaceuticals with an “outperform” rating and a $26 price target, implying 113.11% upside from the prior close.
• Analyst sentiment is broadly positive: ORIC has a consensus “Moderate Buy” rating from 16 analysts and an average price target of $20.67.
• Oric reported a quarterly loss of $0.38 per share, slightly worse than the $0.36 consensus estimate; insiders have sold 91,000 shares over the past 90 days, while institutional investors own 95.05% of the stock.

Stock analysts at Leerink Partners assumed coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $26.00 price target on the stock. Leerink Partners' target price would indicate a potential upside of 113.11% from the company's previous close.

A number of other equities analysts have also recently issued reports on ORIC. HC Wainwright upped their price objective on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Stifel Nicolaus started coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They set a "buy" rating and a $14.00 price objective on the stock. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Benchmark reissued a "buy" rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Oric Pharmaceuticals Stock Performance

ORIC opened at $12.20 on Monday. The firm has a market cap of $1.26 billion, a P/E ratio of -9.04 and a beta of 0.99. Oric Pharmaceuticals has a 52-week low of $7.23 and a 52-week high of $14.93. The business's fifty day moving average is $12.98 and its 200-day moving average is $10.87.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). On average, research analysts predict that Oric Pharmaceuticals will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 13,400 shares of the firm's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $13.53, for a total transaction of $181,302.00. Following the transaction, the chief financial officer directly owned 69,828 shares in the company, valued at approximately $944,772.84. This trade represents a 16.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 91,000 shares of company stock valued at $1,243,532. Corporate insiders own 5.70% of the company's stock.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors have recently made changes to their positions in ORIC. WINTON GROUP Ltd bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at about $899,000. Engineers Gate Manager LP bought a new stake in Oric Pharmaceuticals in the 2nd quarter worth about $694,000. Integrated Wealth Concepts LLC bought a new stake in Oric Pharmaceuticals in the 2nd quarter worth about $38,000. Squarepoint Ops LLC purchased a new stake in Oric Pharmaceuticals in the 2nd quarter valued at about $3,729,000. Finally, AXQ Capital LP purchased a new stake in Oric Pharmaceuticals in the 2nd quarter valued at about $396,000. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

Oric Pharmaceuticals, Inc NASDAQ: ORIC is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company's research is centered on mechanisms that enable tumors to resist or evade treatment, with the goal of restoring sensitivity to established cancer therapies and improving patient outcomes.

Oric's pipeline has included investigational small-molecule therapies designed to target cancer biology and treatment resistance. These programs include ORIC-533, an oral inhibitor of CD73 being studied in oncology, and ORIC-944, an oral allosteric inhibitor of EED, a component of the polycomb repressive complex 2.

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