Oric Pharmaceuticals (NASDAQ:ORIC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Oric Pharmaceuticals from a “strong sell” to a “sell,” while other analysts remain more constructive overall, with the stock carrying a Moderate Buy consensus and an average target price of $19.27.
• The stock was up 11.1% in Friday trading, opening at $12.10. Oric has a market cap of about $1.25 billion and is trading below its 52-week high of $14.93.
• Oric recently reported a Q1 earnings miss, posting ($0.34) EPS versus expectations for ($0.31), and analysts now expect the company to post -1.45 EPS for the current year.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Citigroup lowered their price objective on Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Wedbush decreased their target price on Oric Pharmaceuticals from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Finally, Stifel Nicolaus began coverage on Oric Pharmaceuticals in a research report on Friday, June 12th. They set a "buy" rating and a $14.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $19.27.

Oric Pharmaceuticals Stock Up 11.1%

ORIC opened at $12.10 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -8.40 and a beta of 1.02. Oric Pharmaceuticals has a 52-week low of $7.23 and a 52-week high of $14.93. The firm's fifty day simple moving average is $9.39 and its two-hundred day simple moving average is $10.29.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Siren L.L.C. grew its position in shares of Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company's stock valued at $37,987,000 after purchasing an additional 1,990,617 shares in the last quarter. UBS Group AG lifted its position in Oric Pharmaceuticals by 116.6% during the fourth quarter. UBS Group AG now owns 734,858 shares of the company's stock worth $6,011,000 after buying an additional 395,622 shares in the last quarter. Candriam S.C.A. acquired a new position in Oric Pharmaceuticals during the first quarter worth $7,274,000. NEXTBio Capital Management LP acquired a new position in Oric Pharmaceuticals during the fourth quarter worth $5,037,000. Finally, Ishara Investments LP purchased a new stake in Oric Pharmaceuticals in the 4th quarter valued at $1,309,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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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