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

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 equities researchers at Zacks Research to a "hold" rating in a research note issued on Tuesday, August 12th,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Oppenheimer cut their target price on Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. LADENBURG THALM/SH SH started coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, June 23rd. HC Wainwright lowered their target price on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.63.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC traded down $0.04 on Tuesday, reaching $9.56. 109,102 shares of the company's stock were exchanged, compared to its average volume of 1,105,423. The stock has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $8.07. The firm has a market cap of $928.50 million, a price-to-earnings ratio of -5.06 and a beta of 1.69. Oric Pharmaceuticals has a 52 week low of $3.90 and a 52 week high of $14.67.

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

Insider Transactions at Oric Pharmaceuticals

In other news, Director Angie You bought 26,597 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of $9.39 per share, for a total transaction of $249,745.83. Following the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 68,317 shares of the company's stock, valued at approximately $717,328.50. This represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $416,289. 5.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ORIC. Geode Capital Management LLC lifted its stake in Oric Pharmaceuticals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,278,713 shares of the company's stock worth $10,321,000 after purchasing an additional 5,200 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Oric Pharmaceuticals by 30.2% in the fourth quarter. Wells Fargo & Company MN now owns 35,857 shares of the company's stock worth $289,000 after buying an additional 8,311 shares during the period. Invesco Ltd. lifted its stake in shares of Oric Pharmaceuticals by 8.5% in 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 last quarter. Barclays PLC boosted its holdings in Oric Pharmaceuticals by 6.9% during the 4th quarter. Barclays PLC now owns 114,692 shares of the company's stock valued at $927,000 after acquiring an additional 7,431 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Oric Pharmaceuticals by 120.9% during the 4th quarter. XTX Topco Ltd now owns 25,966 shares of the company's stock valued at $210,000 after acquiring an additional 14,209 shares during the period. Hedge funds and other institutional investors own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

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.