Oric Pharmaceuticals (NASDAQ:ORIC) Trading 7.8% Higher – Should You Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) traded up 7.8% during trading on Friday . The stock traded as high as $9.15 and last traded at $9.11. 201,414 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,158,608 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Evercore ISI started coverage on shares of Oric Pharmaceuticals in a report on Thursday, November 20th. They set an “outperform” rating and a $25.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, December 8th. Citigroup increased their target price on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Wall Street Zen lowered Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Eleven investment 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. Based on data from MarketBeat.com, Oric Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $19.90.

Oric Pharmaceuticals Stock Performance

The stock has a market cap of $882.34 million, a price-to-earnings ratio of -5.24 and a beta of 1.36. The stock’s 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $10.85.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.08. As a group, research analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the transaction, the insider owned 68,149 shares of the company’s stock, valued at approximately $617,429.94. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $97,123.20. Following the transaction, the chief financial officer owned 68,148 shares of the company’s stock, valued at approximately $617,420.88. The trade was a 13.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,814 shares of company stock valued at $496,615 in the last three months. Company insiders own 6.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ORIC. Nisa Investment Advisors LLC lifted its stake in shares of Oric Pharmaceuticals by 17,300.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after buying an additional 2,422 shares during the period. Assetmark Inc. acquired a new position in Oric Pharmaceuticals in the 3rd quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Oric Pharmaceuticals in the 3rd quarter worth approximately $60,000. Finally, ANTIPODES PARTNERS Ltd grew its holdings in shares of Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

Oric Pharmaceuticals Company Profile

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.