Oric Pharmaceuticals (NASDAQ:ORIC) Coverage Initiated by Analysts at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH started coverage on shares of Oric Pharmaceuticals (NASDAQ:ORIC - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

ORIC has been the topic of a number of other research reports. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Oppenheimer cut their price objective on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, May 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $18.57.

Oric Pharmaceuticals Stock Down 3.1%

Shares of Oric Pharmaceuticals stock traded down $0.35 on Tuesday, reaching $11.10. The stock had a trading volume of 561,068 shares, compared to its average volume of 788,546. The company has a 50 day moving average price of $8.23 and a 200 day moving average price of $7.88. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.67. The stock has a market capitalization of $945.94 million, a P/E ratio of -5.94 and a beta of 1.54.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. On average, analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Angie You bought 26,597 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $9.39 per share, for a total transaction of $249,745.83. Following the purchase, the director directly owned 26,597 shares of the company's stock, valued at approximately $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of Oric Pharmaceuticals stock in a transaction that occurred 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 sale, the chief financial officer owned 68,317 shares of the company's stock, valued at $717,328.50. This trade represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $416,289 over the last quarter. 6.82% of the stock is owned by company insiders.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in Oric Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company's stock valued at $193,000 after acquiring an additional 1,876 shares during the period. PNC Financial Services Group Inc. lifted its stake in Oric Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after acquiring an additional 2,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Oric Pharmaceuticals by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company's stock valued at $226,000 after acquiring an additional 3,131 shares during the period. Swiss National Bank lifted its stake in Oric Pharmaceuticals by 5.4% during the 4th quarter. Swiss National Bank now owns 62,400 shares of the company's stock valued at $504,000 after acquiring an additional 3,200 shares during the period. Finally, American Century Companies Inc. lifted its stake in Oric Pharmaceuticals by 4.4% during the 1st quarter. American Century Companies Inc. now owns 112,628 shares of the company's stock valued at $628,000 after acquiring an additional 4,766 shares during the period. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.