Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up – Should You Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) gapped up before the market opened on Thursday . The stock had previously closed at $11.48, but opened at $12.48. Oric Pharmaceuticals shares last traded at $11.8720, with a volume of 349,956 shares trading hands.

Analyst Ratings Changes

ORIC has been the topic of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of Oric Pharmaceuticals in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. HC Wainwright lifted their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Oric Pharmaceuticals Price Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of -6.82 and a beta of 1.66. The stock’s fifty day moving average is $12.27 and its 200-day moving average is $10.28.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. On average, research analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dominic Piscitelli sold 11,000 shares of Oric Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief financial officer owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $12.32, for a total transaction of $461,519.52. Following the sale, the chief executive officer directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This represents a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 261,000 shares of company stock valued at $3,024,703 in the last ninety days. Company insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ORIC. CANADA LIFE ASSURANCE Co bought a new stake in Oric Pharmaceuticals in the 3rd quarter valued at $65,000. Woodline Partners LP boosted its position in shares of Oric Pharmaceuticals by 0.9% during the 3rd quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after acquiring an additional 2,166 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $358,000. Polar Capital Holdings Plc bought a new stake in Oric Pharmaceuticals in the third quarter valued at about $5,623,000. Finally, Prelude Capital Management LLC acquired a new position in Oric Pharmaceuticals in the third quarter worth about $396,000. 95.05% of the stock is currently owned by 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.