Oric Pharmaceuticals (NASDAQ:ORIC) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating, while other analysts maintain a favorable outlook with multiple "buy" and "overweight" ratings.
• Oric Pharmaceuticals reported an EPS of ($0.47) for the last quarter, falling slightly short of analyst expectations by $0.01.
• Insider transactions included the CFO selling 32,466 shares and a director purchasing 26,597 shares, indicating mixed confidence among company executives.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday. LADENBURG THALM/SH SH began coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They set a "buy" rating and a $15.00 target price on the stock. HC Wainwright dropped their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Oppenheimer dropped their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.63.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC opened at $9.93 on Tuesday. The stock has a 50-day simple moving average of $10.29 and a 200 day simple moving average of $8.11. Oric Pharmaceuticals has a one year low of $3.90 and a one year high of $14.67. The company has a market capitalization of $964.40 million, a price-to-earnings ratio of -5.25 and a beta of 1.69.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.01). On average, equities research analysts forecast that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 32,466 shares of the company'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 of the company's stock, valued at approximately $717,328.50. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Angie You purchased 26,597 shares of the company's stock in a transaction 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 acquisition, the director directly owned 26,597 shares of the company's stock, valued at $249,745.83. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 40,000 shares of company stock worth $416,289 in the last ninety days. 6.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 2,422 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company's stock valued at $53,000 after acquiring an additional 1,372 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Oric Pharmaceuticals during the 1st quarter valued at $56,000. BNP Paribas Financial Markets purchased a new position in shares of Oric Pharmaceuticals during the 4th quarter valued at $71,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Oric Pharmaceuticals during the 1st quarter valued at $102,000. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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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