Oric Pharmaceuticals (NASDAQ:ORIC) Sets New 52-Week High – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares reached a new 52-week high on Thursday . The company traded as high as $15.00 and last traded at $14.4240, with a volume of 379 shares traded. The stock had previously closed at $14.65.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ORIC shares. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, May 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Citigroup lowered their target price on Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.45.

Oric Pharmaceuticals Trading Down 3.5%

The stock’s 50-day moving average price is $11.10 and its 200-day moving average price is $10.57. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -10.50 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, analysts predict that Oric Pharmaceuticals, Inc. will post -1.53 earnings per share for the current year.

Institutional Trading of Oric Pharmaceuticals

Large investors have recently bought and sold shares of the business. Defilade Capital Management L.P. bought a new stake in shares of Oric Pharmaceuticals during the 1st quarter valued at about $10,680,000. Dimensional Fund Advisors LP increased its holdings in Oric Pharmaceuticals by 19.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,471,290 shares of the company’s stock worth $18,637,000 after purchasing an additional 244,060 shares in the last quarter. Siren L.L.C. lifted its stake in Oric Pharmaceuticals by 197.6% in the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after buying an additional 1,990,617 shares during the period. UBS Group AG lifted its stake in Oric Pharmaceuticals by 116.6% in the fourth quarter. UBS Group AG now owns 734,858 shares of the company’s stock valued at $6,011,000 after buying an additional 395,622 shares during the period. Finally, Candriam S.C.A. bought a new position in shares of Oric Pharmaceuticals during the 1st quarter worth approximately $7,274,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.