Wedbush Analysts Increase Earnings Estimates for ORIC

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) - Wedbush boosted their Q1 2025 earnings per share (EPS) estimates for ORIC Pharmaceuticals in a note issued to investors on Tuesday, February 25th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.50) per share for the quarter, up from their prior forecast of ($0.52). Wedbush has a "Outperform" rating and a $20.00 price objective 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 ($0.49) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at ($0.48) EPS, FY2025 earnings at ($1.95) EPS, FY2026 earnings at ($1.81) EPS and FY2027 earnings at ($1.95) EPS.

Several other research analysts also recently issued reports on the company. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $18.86.

ORIC Pharmaceuticals Price Performance

Shares of NASDAQ ORIC traded down $0.20 during mid-day trading on Friday, hitting $7.84. 92,923 shares of the stock traded hands, compared to its average volume of 1,197,928. ORIC Pharmaceuticals has a twelve month low of $6.33 and a twelve month high of $16.65. The firm has a 50 day simple moving average of $9.26 and a two-hundred day simple moving average of $9.47. The company has a market cap of $556.50 million, a PE ratio of -4.30 and a beta of 1.21.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.01.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $204,184.80. Following the completion of the transaction, the chief executive officer now owns 778,648 shares in the company, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,361 shares of company stock worth $350,749. Corporate insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its holdings in ORIC Pharmaceuticals by 152.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,229 shares of the company's stock worth $4,205,000 after acquiring an additional 247,863 shares during the last quarter. Barclays PLC boosted its holdings in ORIC Pharmaceuticals by 111.2% during the third quarter. Barclays PLC now owns 107,261 shares of the company's stock worth $1,100,000 after purchasing an additional 56,474 shares during the last quarter. Franklin Resources Inc. increased its stake in ORIC Pharmaceuticals by 26.1% in the 3rd quarter. Franklin Resources Inc. now owns 950,459 shares of the company's stock valued at $9,067,000 after buying an additional 196,804 shares during the last quarter. Creative Planning purchased a new position in shares of ORIC Pharmaceuticals in the 3rd quarter worth approximately $116,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of ORIC Pharmaceuticals by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 35,251 shares of the company's stock valued at $361,000 after acquiring an additional 1,279 shares in the last quarter. Institutional investors own 95.05% of the company's stock.

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.