Oric Pharmaceuticals (NASDAQ:ORIC) Sees Strong Trading Volume – Still a Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares saw unusually-strong trading volume on Monday . Approximately 1,888,516 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 1,739,736 shares.The stock last traded at $12.0320 and had previously closed at $11.99.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ORIC. Wolfe Research assumed coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company lifted their price target on shares of Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Piper Sandler began coverage on Oric Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 target price for the company. 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 report on Monday, November 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Eleven 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Oric Pharmaceuticals Stock Down 9.3%

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.35 and a beta of 1.36. The stock has a fifty day moving average price of $10.09 and a two-hundred day moving average price of $10.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. Analysts predict that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 10,720 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at $617,420.88. This represents a 13.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pratik S. Multani sold 10,720 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total transaction of $97,123.20. Following the sale, the insider directly owned 68,149 shares in the company, valued at approximately $617,429.94. The trade was a 13.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,814 shares of company stock valued at $496,615. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

Large investors have recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in shares of Oric Pharmaceuticals by 21.0% during the fourth quarter. Arizona State Retirement System now owns 12,163 shares of the company’s stock worth $99,000 after purchasing an additional 2,107 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Oric Pharmaceuticals in the 4th quarter valued at approximately $135,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Oric Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock worth $39,000 after buying an additional 977 shares during the period. Tema Etfs LLC bought a new stake in Oric Pharmaceuticals during the 4th quarter worth approximately $228,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Oric Pharmaceuticals by 15.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 170,072 shares of the company’s stock valued at $1,391,000 after acquiring an additional 23,024 shares during the period. 95.05% of the stock is currently owned by institutional investors.

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.