Wedbush Reduces Earnings Estimates for ORIC Pharmaceuticals

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) - Wedbush decreased their Q1 2025 earnings per share (EPS) estimates for ORIC Pharmaceuticals in a report released on Tuesday, February 18th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.52) per share for the quarter, down from their previous forecast of ($0.47). Wedbush currently has a "Outperform" rating and a $20.00 target price on the stock. The consensus estimate for ORIC Pharmaceuticals' current full-year earnings is ($2.17) per share. Wedbush also issued estimates for ORIC Pharmaceuticals' Q2 2025 earnings at ($0.54) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.17) EPS, FY2026 earnings at ($2.00) EPS and FY2027 earnings at ($2.14) EPS.

Several other research analysts also recently issued reports on ORIC. Guggenheim restated a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Monday, February 10th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an "overweight" rating and a $20.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a report on Friday. JPMorgan Chase & Co. lifted their price objective on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.71.

ORIC Pharmaceuticals Stock Down 2.0 %

Shares of ORIC Pharmaceuticals stock traded down $0.16 on Friday, hitting $7.52. The company's stock had a trading volume of 76,624 shares, compared to its average volume of 1,224,822. The company has a market capitalization of $534.43 million, a P/E ratio of -4.13 and a beta of 1.21. ORIC Pharmaceuticals has a 52-week low of $6.33 and a 52-week high of $16.65. The firm has a fifty day moving average price of $9.27 and a 200-day moving average price of $9.50.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.51) EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.01.

Insider Activity

In related news, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the sale, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacob Chacko sold 24,660 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares of the company's stock, valued at approximately $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in ORIC Pharmaceuticals by 3.8% during the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company's stock worth $361,000 after purchasing an additional 1,279 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company's stock worth $121,000 after buying an additional 1,395 shares during the period. Invesco Ltd. grew its stake in ORIC Pharmaceuticals by 8.5% during 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 in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock worth $109,000 after purchasing an additional 2,520 shares during the period. Finally, Swiss National Bank boosted its position in ORIC Pharmaceuticals by 5.4% during the fourth quarter. Swiss National Bank now owns 62,400 shares of the company's stock valued at $504,000 after purchasing an additional 3,200 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.