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

Key Points

• Oric Pharmaceuticals, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with eight out of ten covering firms issuing buy ratings.
• The average 12-month price target set by brokerages for Oric Pharmaceuticals is $17.29, with recent adjustments from firms such as JPMorgan and HC Wainwright.
• Notable insider activity includes CFO Dominic Piscitelli and CEO Jacob Chacko selling significant shares in the company, indicating a decrease in their positions by 18.54% and 16.00%, respectively.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.2857.

Several research firms have recently weighed in on ORIC. LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. HC Wainwright lowered their target price on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Monday, June 23rd.

Insider Activity

In related news, CFO Dominic Piscitelli sold 11,000 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total transaction of $159,720.00. Following the transaction, the chief financial officer owned 48,317 shares in the company, valued at $701,562.84. This represents a 18.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacob Chacko sold 125,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the transaction, the chief executive officer owned 656,419 shares in the company, valued at approximately $7,089,325.20. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 261,000 shares of company stock worth $3,024,703. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC lifted its position in Oric Pharmaceuticals by 62.8% during the 1st quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock worth $11,609,000 after buying an additional 802,632 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Oric Pharmaceuticals by 50.7% during the 1st quarter. Rafferty Asset Management LLC now owns 77,424 shares of the company's stock valued at $432,000 after purchasing an additional 26,032 shares during the period. Victory Capital Management Inc. lifted its position in Oric Pharmaceuticals by 54.1% during the 1st quarter. Victory Capital Management Inc. now owns 150,260 shares of the company's stock valued at $838,000 after purchasing an additional 52,760 shares during the period. Nuveen LLC acquired a new position in Oric Pharmaceuticals during the 1st quarter valued at about $935,000. Finally, Swiss National Bank lifted its position in Oric Pharmaceuticals by 9.6% during the 1st quarter. Swiss National Bank now owns 68,400 shares of the company's stock valued at $382,000 after purchasing an additional 6,000 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Stock Performance

ORIC opened at $13.91 on Tuesday. The firm's 50-day simple moving average is $10.83 and its 200-day simple moving average is $8.84. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -7.36 and a beta of 1.68.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). As a group, sell-side analysts anticipate that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Oric Pharmaceuticals Company Profile

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.

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