Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Stock Has Average Target Price of $20.18

Key Points

• Analysts maintain a Moderate Buy consensus on Oric Pharmaceuticals, with 13 buy ratings, one hold, and one sell. The average 12-month price target is $20.18, implying upside from the stock’s $13.27 opening price.
• Oric shares have risen 0.8% and trade between a 12-month range of $7.23 to $14.93, while the company reported a quarterly loss of $0.38 per share—$0.02 worse than analysts expected.
• Institutional investors own 95.05% of the company, with several hedge funds initiating positions during the second quarter. Separately, CFO Dominic Piscitelli sold 77,000 shares under a pre-arranged Rule 10b5-1 plan.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.18.

A number of analysts recently weighed in on ORIC shares. 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. BTIG Research assumed coverage on Oric Pharmaceuticals in a research report on Wednesday, September 23rd. They set a "buy" rating and a $26.00 price target for the company. HC Wainwright raised their price objective on Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Benchmark reissued a "buy" rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the firm's 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 completion of the sale, the chief financial officer directly owned 69,828 shares in the company, valued at $955,945.32. This trade represents a 52.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ORIC. WINTON GROUP Ltd bought a new position in Oric Pharmaceuticals in the second quarter valued at approximately $899,000. Engineers Gate Manager LP acquired a new position in Oric Pharmaceuticals in the 2nd quarter worth about $694,000. Integrated Wealth Concepts LLC bought a new position in Oric Pharmaceuticals in the 2nd quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new position in shares of Oric Pharmaceuticals during the second quarter valued at $3,729,000. Finally, AXQ Capital LP bought a new position in Oric Pharmaceuticals during the 2nd quarter worth $396,000. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Stock Up 0.8%

Oric Pharmaceuticals stock opened at $13.27 on Tuesday. Oric Pharmaceuticals has a 12-month low of $7.23 and a 12-month high of $14.93. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -9.83 and a beta of 1.00. The stock has a 50-day simple moving average of $12.84 and a 200 day simple moving average of $10.84.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, sell-side analysts anticipate that Oric Pharmaceuticals will post -1.53 EPS for the current year.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for cancer. The company seeks to address treatment resistance by targeting biological mechanisms that allow tumors to survive or evade existing therapies, with an emphasis on restoring or enhancing the effectiveness of anti-cancer treatment.

Oric's research and development portfolio has included small-molecule drug candidates aimed at targets such as CD73 and the polycomb repressive complex 2 (PRC2).

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