Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 6.5% – Here’s What Happened

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) traded up 6.5% on Wednesday . The stock traded as high as $11.22 and last traded at $11.24. Approximately 950,223 shares were traded during mid-day trading, a decline of 47% from the average session volume of 1,789,579 shares. The stock had previously closed at $10.55.

Wall Street Analyst Weigh In

ORIC has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday, May 15th. Wedbush cut their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Oric Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Oric Pharmaceuticals Stock Up 7.0%

The business has a 50-day moving average price of $9.03 and a 200-day moving average price of $10.16. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.84 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03). On average, equities research analysts forecast that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Oric Pharmaceuticals by 48.8% during the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after buying an additional 1,525,445 shares during the period. State Street Corp raised its stake in Oric Pharmaceuticals by 77.1% in the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock worth $34,834,000 after acquiring an additional 1,854,458 shares during the last quarter. Orbimed Advisors LLC lifted its position in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after acquiring an additional 2,742,475 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Oric Pharmaceuticals by 14.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after acquiring an additional 423,795 shares during the period. Finally, Siren L.L.C. grew its stake in Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after purchasing an additional 1,990,617 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.