ORIC Pharmaceuticals (NASDAQ:ORIC) Trading 3.2% Higher

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORICGet Free Report) shot up 3.2% on Tuesday . The stock traded as high as $7.68 and last traded at $7.68. 4,835 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 503,944 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

ORIC has been the subject of a number of analyst reports. HC Wainwright boosted their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Wedbush raised their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 28th. Finally, Citigroup dropped their price objective on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.00.

Get Our Latest Research Report on ORIC

ORIC Pharmaceuticals Price Performance

The company has a market cap of $500.95 million, a PE ratio of -4.13 and a beta of 1.18. The company has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $10.36.

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.07. On average, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.68 earnings per share for the current year.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently modified their holdings of ORIC. Virtu Financial LLC acquired a new stake in ORIC Pharmaceuticals during the 1st quarter valued at approximately $225,000. NEA Management Company LLC bought a new stake in shares of ORIC Pharmaceuticals in the first quarter worth $20,625,000. Price T Rowe Associates Inc. MD raised its holdings in ORIC Pharmaceuticals by 140.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock valued at $21,543,000 after acquiring an additional 915,175 shares in the last quarter. Vanguard Group Inc. raised its holdings in ORIC Pharmaceuticals by 27.9% in the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after acquiring an additional 629,536 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in ORIC Pharmaceuticals during the 1st quarter worth $161,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

About ORIC Pharmaceuticals

(Get Free Report)

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.

Further Reading

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