Wedbush Reiterates "Outperform" Rating for Oric Pharmaceuticals (NASDAQ:ORIC)
Wedbush has reiterated an "outperform" rating for Oric Pharmaceuticals (NASDAQ:ORIC) with a target price of $20.00, suggesting a potential upside of 49.25%. Other analysts have varying ratings, with an average target price of $17.29. The stock traded at $13.40, with a market cap of $1.30 billion. Recent insider sales include CFO Dominic Piscitelli and CEO Jacob Chacko, who sold shares, indicating a decrease in their positions. Institutional investors hold 95.05% of the stock, reflecting strong interest in the company.
Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report)'s stock had its "outperform" rating restated by analysts at Wedbush in a report issued on Monday,RTT News reports. They presently have a $20.00 price objective on the stock. Wedbush's price target would suggest a potential upside of 49.25% from the company's previous close.
Other equities analysts have also issued research reports about the company. Guggenheim started coverage on Oric Pharmaceuticals in a report on Thursday, September 4th. They set a "buy" rating and a $18.00 price objective on the stock. Zacks Research upgraded Oric Pharmaceuticals to a "hold" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. LADENBURG THALM/SH SH assumed coverage on Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Oric Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $17.29.
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Oric Pharmaceuticals Stock Performance
ORIC stock traded up $0.30 during midday trading on Monday, reaching $13.40. 1,265,268 shares of the company were exchanged, compared to its average volume of 1,545,989. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -7.09 and a beta of 1.68. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The stock's 50-day simple moving average is $11.48 and its 200 day simple moving average is $9.40.
Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted 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, research analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Dominic Piscitelli sold 11,000 shares of the firm's stock in a transaction on Monday, October 6th. The shares were 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. This trade represents a 18.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 125,000 shares of Oric Pharmaceuticals stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief executive officer directly owned 656,419 shares in the company, valued at approximately $7,089,325.20. The trade was a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 261,000 shares of company stock worth $3,024,703. 5.55% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Oric Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Oric Pharmaceuticals during the 3rd quarter worth approximately $216,000. KLP Kapitalforvaltning AS acquired a new position in Oric Pharmaceuticals during the third quarter worth $85,000. Squarepoint Ops LLC purchased a new position in Oric Pharmaceuticals in the second quarter worth $1,084,000. Tower Research Capital LLC TRC lifted its holdings in Oric Pharmaceuticals by 1,293.0% in the second quarter. Tower Research Capital LLC TRC now owns 11,757 shares of the company's stock valued at $119,000 after acquiring an additional 10,913 shares during the period. Finally, Eventide Asset Management LLC acquired a new stake in Oric Pharmaceuticals in the second quarter valued at $9,657,000. Hedge funds and other institutional investors own 95.05% of the company's stock.
About Oric Pharmaceuticals
(Get Free Report)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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