Oric Pharmaceuticals (NASDAQ:ORIC) Trading 12.3% Higher – Here’s Why

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares traded up 12.3% on Tuesday . The stock traded as high as $11.40 and last traded at $11.9080. Approximately 258,212 shares changed hands during trading, a decline of 85% from the average daily volume of 1,777,223 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several analysts have commented on the stock. Benchmark reaffirmed a “buy” rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Wall Street Zen raised shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 target price for the company. Citigroup decreased their price target on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Thirteen 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

Oric Pharmaceuticals Trading Down 4.0%

The firm has a fifty day moving average of $9.95 and a two-hundred day moving average of $10.44. The company has a market cap of $1.34 billion, a PE ratio of -9.58 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). Sell-side analysts expect that Oric Pharmaceuticals, Inc. will post -1.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Oric Pharmaceuticals by 48.8% in the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after acquiring an additional 1,525,445 shares during the period. State Street Corp grew its holdings in Oric Pharmaceuticals by 77.1% during the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after buying an additional 1,854,458 shares in the last quarter. Orbimed Advisors LLC increased its position in shares of Oric Pharmaceuticals by 305.0% during the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after buying an additional 2,742,475 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Oric Pharmaceuticals by 14.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,295,122 shares of the company’s stock worth $26,955,000 after buying an additional 423,795 shares in the last quarter. Finally, Siren L.L.C. grew its stake in Oric Pharmaceuticals by 197.6% during the first quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after acquiring an additional 1,990,617 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

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.