Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) have been given an average rating of "Buy" by the eight ratings firms that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.17.

Several equities research analysts have issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target on shares of Oric Pharmaceuticals in a report on Monday, May 5th. Oppenheimer lowered their price objective on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Wedbush reiterated an "outperform" rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd.

Insider Buying and Selling at Oric Pharmaceuticals

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Alkeon Capital Management LLC increased its position in shares of Oric Pharmaceuticals by 2.6% in the first quarter. Alkeon Capital Management LLC now owns 4,004,096 shares of the company's stock worth $22,343,000 after purchasing an additional 100,000 shares during the period. Vanguard Group Inc. increased its position in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock worth $17,945,000 after purchasing an additional 12,098 shares during the period. Vivo Capital LLC increased its position in shares of Oric Pharmaceuticals by 62.8% in the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock worth $11,609,000 after purchasing an additional 802,632 shares during the period. Boxer Capital Management LLC bought a new position in shares of Oric Pharmaceuticals in the fourth quarter worth $13,982,000. Finally, NEA Management Company LLC increased its position in shares of Oric Pharmaceuticals by 4.4% in the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock worth $12,638,000 after purchasing an additional 66,081 shares during the period. Institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock opened at $10.77 on Friday. The business has a fifty day simple moving average of $7.70 and a two-hundred day simple moving average of $7.78. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.67. The company has a market capitalization of $917.82 million, a price-to-earnings ratio of -5.76 and a beta of 1.54.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, equities analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share 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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