Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives $17.29 Average PT from Analysts

Key Points

• Oric Pharmaceuticals, Inc. has received a consensus rating of "Moderate Buy" from nine research firms, with one hold and eight buy recommendations.
• The average 12-month target price for the stock is $17.29, though analysts have recently adjusted their price objectives downward.
• Company insiders, including CFO Dominic Piscitelli, have recently sold shares, with institutional investors holding a significant 95.05% stake in the company.

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.2857.

A number of brokerages recently weighed in on ORIC. Wedbush reaffirmed an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a research note on Tuesday, July 8th. They set a "buy" rating and a $15.00 price objective on the stock. Guggenheim began coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They issued a "buy" rating and a $18.00 target price for the company. Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th.

Oric Pharmaceuticals Price Performance

ORIC stock traded up $0.26 on Friday, hitting $10.82. 1,488,208 shares of the company were exchanged, compared to its average volume of 1,242,589. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -5.72 and a beta of 1.63. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.67. The business's fifty day moving average is $10.41 and its two-hundred day moving average is $8.31.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data 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). Equities research analysts expect that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Dominic Piscitelli sold 32,466 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total transaction of $340,893.00. Following the completion of the sale, the chief financial officer directly owned 68,317 shares in the company, valued at $717,328.50. This trade represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

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

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.