Oric Pharmaceuticals (NASDAQ:ORIC) Shares Up 7% – Still a Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price shot up 7% during trading on Thursday . The stock traded as high as $12.50 and last traded at $12.52. 444,754 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,646,653 shares. The stock had previously closed at $11.70.

Analyst Ratings Changes

A number of equities analysts recently commented on ORIC shares. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research note on Tuesday, February 24th. Wells Fargo & Company upped their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research report on Friday, March 13th. Citigroup boosted their target price on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Oric Pharmaceuticals Stock Performance

The stock has a market cap of $1.24 billion, a PE ratio of -8.24 and a beta of 1.28. The firm has a fifty day moving average price of $11.68 and a 200 day moving average price of $11.29.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. On average, equities research analysts forecast that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total transaction of $702,520.00. Following the transaction, the chief financial officer owned 68,148 shares in the company, valued at $920,679.48. This represents a 43.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Vivo Capital LLC raised its stake in shares of Oric Pharmaceuticals by 50.3% in the second quarter. Vivo Capital LLC now owns 3,126,604 shares of the company’s stock worth $31,735,000 after purchasing an additional 1,046,154 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Oric Pharmaceuticals by 3,646.1% during the second quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock worth $13,555,000 after purchasing an additional 1,299,799 shares during the period. Royce & Associates LP boosted its position in Oric Pharmaceuticals by 521.2% in the third quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock valued at $17,502,000 after buying an additional 1,223,709 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in Oric Pharmaceuticals by 12.5% in the 2nd quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company’s stock worth $45,717,000 after buying an additional 500,000 shares during the period. Finally, Resolute Capital Asset Partners LLC purchased a new position in Oric Pharmaceuticals during the 2nd quarter worth approximately $2,309,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.