HC Wainwright Issues Pessimistic Forecast for Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price

Key Points

• Oric Pharmaceuticals' price target has been reduced by HC Wainwright from $22.00 to $19.00, while still maintaining a "buy" rating, indicating a potential upside of 93.29% from its previous close.
• Several analysts have varied opinions on the stock, with consensus ratings leaning towards a "buy" and an average price target of $18.25.
• CFO Dominic Piscitelli sold 32,466 shares of the company's stock, indicating a significant reduction in his ownership, while Director Angie You purchased 26,597 shares.

Oric Pharmaceuticals (NASDAQ:ORIC - Free Report) had its price target trimmed by HC Wainwright from $22.00 to $19.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Guggenheim reiterated a "buy" rating and issued a $18.00 price objective on shares of Oric Pharmaceuticals in a research note on Wednesday. LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. Finally, Oppenheimer decreased their price target on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.63.

Oric Pharmaceuticals Trading Down 2.7%

Shares of ORIC traded down $0.27 during mid-day trading on Thursday, hitting $9.66. The company's stock had a trading volume of 650,938 shares, compared to its average volume of 1,295,893. The company's 50-day moving average is $10.30 and its 200-day moving average is $8.08. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.67. The firm has a market capitalization of $938.21 million, a price-to-earnings ratio of -5.11 and a beta of 1.69.

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

Insider Transactions at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, Director Angie You acquired 26,597 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the completion of the acquisition, the director owned 26,597 shares of the company's stock, valued at approximately $249,745.83. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dominic Piscitelli sold 32,466 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 68,317 shares of the company's stock, valued at approximately $717,328.50. This trade represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $416,289. Company insiders own 6.82% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company's stock worth $25,000 after acquiring an additional 2,422 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company's stock valued at $53,000 after buying an additional 1,372 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Oric Pharmaceuticals in the 1st quarter valued at $56,000. BNP Paribas Financial Markets acquired a new position in shares of Oric Pharmaceuticals in the 4th quarter valued at $71,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Oric Pharmaceuticals in the 1st quarter valued at $102,000. 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.