Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is favorable: Fourteen brokerages give Oric Pharmaceuticals a consensus “Moderate Buy” rating, with 12 buys, one hold and one sell. The average 12-month price target is $19.60.
• Oric opened at $12.74, with a market capitalization of approximately $1.32 billion and a 52-week trading range of $7.23 to $14.93. Its latest quarterly loss of $0.38 per share was slightly worse than the $0.36 consensus estimate.
• Institutional ownership is high at 95.05%: BlackRock initiated a roughly $73.9 million position, while several other investment firms significantly increased their stakes. Separately, CFO Dominic Piscitelli sold 77,000 shares for about $1.05 million under a pre-arranged trading plan.

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fourteen research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.60.

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Friday, May 15th. Stifel Nicolaus began coverage on Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a "buy" rating and a $14.00 price target for the company. Wall Street Zen raised Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. Benchmark reiterated a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $12.74 on Friday. The firm has a market cap of $1.32 billion, a P/E ratio of -9.44 and a beta of 1.00. Oric Pharmaceuticals has a fifty-two week low of $7.23 and a fifty-two week high of $14.93. The firm has a 50-day simple moving average of $12.16 and a two-hundred day simple moving average of $10.80.

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

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 77,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total transaction of $1,054,130.00. Following the transaction, the chief financial officer owned 69,828 shares in the company, valued at $955,945.32. This represents a 52.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.70% of the stock is owned by insiders.

Institutional Trading of Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Oric Pharmaceuticals during the second quarter valued at approximately $73,904,000. Orbimed Advisors LLC increased its position in Oric Pharmaceuticals by 305.0% in the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock worth $43,701,000 after buying an additional 2,742,475 shares in the last quarter. Paradigm Biocapital Advisors LP bought a new position in shares of Oric Pharmaceuticals in the fourth quarter worth about $19,642,000. Siren L.L.C. raised its stake in shares of Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock worth $37,987,000 after buying an additional 1,990,617 shares during the period. Finally, State Street Corp lifted its position in shares of Oric Pharmaceuticals by 77.1% during the 4th quarter. State Street Corp now owns 4,258,397 shares of the company's stock valued at $34,834,000 after buying an additional 1,854,458 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source