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

Key Points

• Oric Pharmaceuticals has a consensus analyst rating of “Moderate Buy”, with 13 of 16 covering firms recommending buy and an average 12-month price target of about $19.27.
• The stock was up 5.6% and opened at $11.14, giving the company a market cap of roughly $1.15 billion; it remains below its 52-week high of $14.93.
• Oric reported a Q1 loss of $0.34 per share, slightly worse than analysts expected, while the company continues to advance its clinical-stage oncology pipeline, including ORIC-101.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.2727.

Several equities research analysts have recently issued reports on ORIC shares. HC Wainwright reissued a "buy" rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Citigroup reduced their target price on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, April 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Finally, Stifel Nicolaus initiated coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They issued a "buy" rating and a $14.00 price objective on the stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company's stock worth $55,802,000 after acquiring an additional 1,525,445 shares in the last quarter. State Street Corp raised 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 acquiring an additional 1,854,458 shares in the last quarter. Orbimed Advisors LLC lifted its stake in Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company's stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Oric Pharmaceuticals by 14.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company's stock worth $26,955,000 after purchasing an additional 423,795 shares during the last quarter. Finally, Siren L.L.C. lifted its stake in Oric Pharmaceuticals by 197.6% during the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock worth $37,987,000 after purchasing an additional 1,990,617 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Trading Up 5.6%

Oric Pharmaceuticals stock opened at $11.14 on Thursday. The stock has a market cap of $1.15 billion, a PE ratio of -7.74 and a beta of 1.02. The stock has a 50-day moving average price of $9.07 and a 200 day moving average price of $10.17. Oric Pharmaceuticals has a 52 week low of $7.23 and a 52 week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). On average, equities analysts predict that Oric Pharmaceuticals will post -1.45 EPS for the current year.

Oric Pharmaceuticals Company Profile

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.

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