Oric Pharmaceuticals (NASDAQ:ORIC) Receives Outperform Rating from Wedbush

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They presently have a $20.00 price target on the stock. Wedbush's target price indicates a potential upside of 109.42% from the company's current price.

A number of other research analysts also recently issued reports on ORIC. Oppenheimer decreased their price objective on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on Oric Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and issued a $21.00 price target on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Finally, Guggenheim reiterated a "buy" rating on shares of Oric Pharmaceuticals in a research note on Wednesday, February 26th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Oric Pharmaceuticals presently has an average rating of "Buy" and an average target price of $19.17.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock traded up $0.24 on Monday, hitting $9.55. The company had a trading volume of 279,388 shares, compared to its average volume of 782,741. The stock has a 50-day moving average of $6.61 and a 200-day moving average of $7.66. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.67. The firm has a market capitalization of $813.85 million, a P/E ratio of -5.11 and a beta of 1.49.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its earnings results 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. Equities analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 2,976 shares of Oric Pharmaceuticals stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $10.01, for a total transaction of $29,789.76. Following the completion of the transaction, the chief financial officer now directly owns 102,117 shares of the company's stock, valued at $1,022,191.17. The trade was a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 6,500 shares of company stock worth $65,056 over the last 90 days. Company insiders own 5.55% of the company's stock.

Institutional Trading of Oric Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Alkeon Capital Management LLC grew its stake in Oric Pharmaceuticals by 2.6% in the 1st quarter. Alkeon Capital Management LLC now owns 4,004,096 shares of the company's stock valued at $22,343,000 after buying an additional 100,000 shares during the last quarter. Vanguard Group Inc. grew 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 valued at $17,945,000 after purchasing an additional 12,098 shares during the last quarter. Vivo Capital LLC increased its stake in shares of Oric Pharmaceuticals by 62.8% during 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 during the fourth quarter worth approximately $13,982,000. Finally, NEA Management Company LLC lifted its holdings in Oric Pharmaceuticals by 4.4% during the 4th 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 last quarter. 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.

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