Oric Pharmaceuticals' (ORIC) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Oric Pharmaceuticals' stock received a reaffirmed "sell (D-)" rating from Weiss Ratings, while other analysts have given it a mixed rating with the consensus being a "Moderate Buy" and an average target price of $17.29.
• The company's stock increased by 1.1% to open at $14.28, with a market capitalization of $1.39 billion and a PE ratio of -7.56.
• Insider trading activity included CFO Dominic Piscitelli selling 11,000 shares, decreasing his ownership by 18.54%, and CEO Jacob Chacko selling 37,461 shares, representing a 6.59% reduction in his stake.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on ORIC. Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a research report on Tuesday, August 12th. HC Wainwright dropped their price target on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. Wedbush reiterated an "outperform" rating and set a $20.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Guggenheim assumed coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $17.29.

Oric Pharmaceuticals Stock Up 1.1%

ORIC stock opened at $14.28 on Wednesday. The firm has a market capitalization of $1.39 billion, a PE ratio of -7.56 and a beta of 1.68. Oric Pharmaceuticals has a twelve month low of $3.90 and a twelve month high of $14.93. The stock has a 50-day simple moving average of $10.59 and a two-hundred day simple moving average of $8.66.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its 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 EPS for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 11,000 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the sale, the chief financial officer owned 48,317 shares in the company, valued at approximately $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the business's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the completion of the sale, the chief executive officer owned 531,419 shares of the company's stock, valued at $6,547,082.08. The trade was a 6.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,000 shares of company stock valued at $3,024,703 in the last quarter. Corporate insiders own 6.82% of the company's stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORIC. Nisa Investment Advisors LLC grew its stake in Oric Pharmaceuticals by 17,300.0% in the second 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 during the period. ANTIPODES PARTNERS Ltd boosted its holdings in Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company's stock worth $53,000 after acquiring an additional 1,372 shares in the last quarter. Arizona State Retirement System bought a new stake in Oric Pharmaceuticals in the first quarter worth $56,000. Hsbc Holdings PLC bought a new stake in Oric Pharmaceuticals in the first quarter worth $102,000. Finally, Legato Capital Management LLC bought a new stake in Oric Pharmaceuticals in the first quarter worth $109,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.

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