Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $17.63 Consensus Price Target from Analysts

Key Points

• Oric Pharmaceuticals has received a consensus rating of "Moderate Buy" from ten research firms, with one hold and nine buy recommendations.
• The average 12-month target price for Oric Pharmaceuticals stock is $17.6250, though some analysts have adjusted their estimates lower recently.
• Insider transactions show significant activity, including a purchase by Director Angie You of 26,597 shares and a sale by CFO Dominic Piscitelli of 32,466 shares.

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.6250.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. LADENBURG THALM/SH SH assumed coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price target for the company. Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. Finally, Oppenheimer lowered their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th.

Insider Transactions at Oric Pharmaceuticals

In other news, Director Angie You bought 26,597 shares of the stock in a transaction on Friday, June 20th. The stock was acquired at an average price of $9.39 per share, with a total value of $249,745.83. Following the acquisition, the director directly owned 26,597 shares in the company, valued at approximately $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the transaction, the chief financial officer directly owned 68,317 shares of the company's stock, valued at approximately $717,328.50. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock valued at $416,289. Insiders own 6.82% of the company's stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in Oric Pharmaceuticals in the 2nd quarter worth about $1,084,000. Tower Research Capital LLC TRC increased its holdings in Oric Pharmaceuticals by 1,293.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company's stock worth $119,000 after purchasing an additional 10,913 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at about $9,657,000. BNP Paribas Financial Markets grew its position in shares of Oric Pharmaceuticals by 1,102.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 86,755 shares of the company's stock valued at $881,000 after buying an additional 79,540 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Oric Pharmaceuticals in the 2nd quarter valued at about $352,000. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock traded up $0.20 during trading on Monday, reaching $10.23. 711,532 shares of the company's stock were exchanged, compared to its average volume of 763,636. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67. The company has a market cap of $993.54 million, a P/E ratio of -5.41 and a beta of 1.69. The firm's 50-day moving average price is $10.38 and its 200 day moving average price is $8.00.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.01). As a group, equities research analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

About Oric Pharmaceuticals

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.