Oric Pharmaceuticals' (ORIC) Buy Rating Reiterated at Guggenheim

Key Points

• Oric Pharmaceuticals' stock received a "buy" rating from Guggenheim, with a target price of $18.00, suggesting a potential upside of 79.10% from its recent trading price.
• Analysts have reported varying target prices, with Wedbush setting a target at $20.00 and HC Wainwright at $21.00, while Oppenheimer reduced its target to $12.00.
• Insider trading activities included Director Angie You purchasing 26,597 shares at $9.39 each, while CFO Dominic Piscitelli sold 32,466 shares at $10.50, indicating mixed sentiments among insiders.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Guggenheim in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 target price on the stock. Guggenheim's price target points to a potential upside of 79.10% from the company's previous close.

ORIC has been the subject of a number of other research reports. Wedbush reiterated an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Oppenheimer dropped their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. LADENBURG THALM/SH SH began coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a "buy" rating and a $15.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Finally, HC Wainwright restated a "buy" rating and issued a $21.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, May 5th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Oric Pharmaceuticals presently has an average rating of "Buy" and an average price target of $18.50.

Oric Pharmaceuticals Price Performance

NASDAQ:ORIC traded up $0.53 during midday trading on Wednesday, reaching $10.05. The stock had a trading volume of 103,640 shares, compared to its average volume of 1,114,458. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.67. The firm's fifty day simple moving average is $10.26 and its 200-day simple moving average is $8.11. The stock has a market capitalization of $856.46 million, a P/E ratio of -5.36 and a beta of 1.69.

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

Insider Buying and Selling at Oric Pharmaceuticals

In other news, Director Angie You acquired 26,597 shares of the business's stock in a transaction on Friday, June 20th. The shares were purchased at an average cost of $9.39 per share, with a total value of $249,745.83. Following the acquisition, the director directly owned 26,597 shares of the company's stock, valued at $249,745.83. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of Oric Pharmaceuticals 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 sale, the chief financial officer owned 68,317 shares in the company, valued at $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,000 shares of company stock valued at $416,289. 5.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Oric Pharmaceuticals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,278,713 shares of the company's stock valued at $10,321,000 after buying an additional 5,200 shares during the period. Wells Fargo & Company MN increased its position in shares of Oric Pharmaceuticals by 30.2% during the fourth quarter. Wells Fargo & Company MN now owns 35,857 shares of the company's stock valued at $289,000 after buying an additional 8,311 shares during the period. Invesco Ltd. increased its position in shares of Oric Pharmaceuticals by 8.5% during the fourth quarter. Invesco Ltd. now owns 23,958 shares of the company's stock valued at $193,000 after buying an additional 1,876 shares during the period. Barclays PLC increased its position in shares of Oric Pharmaceuticals by 6.9% during the fourth quarter. Barclays PLC now owns 114,692 shares of the company's stock valued at $927,000 after buying an additional 7,431 shares during the period. Finally, XTX Topco Ltd increased its position in shares of Oric Pharmaceuticals by 120.9% during the fourth quarter. XTX Topco Ltd now owns 25,966 shares of the company's stock valued at $210,000 after buying an additional 14,209 shares during the period. 95.05% of the stock is currently owned by 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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