Oric Pharmaceuticals (NASDAQ:ORIC) Trading Up 12.3% – Here’s What Happened

by · The Cerbat Gem

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report)’s stock price traded up 12.3% during mid-day trading on Tuesday . The company 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 session volume of 1,777,223 shares. The stock had previously closed at $10.60.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Stifel Nicolaus began coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 price target for the company. Benchmark reissued a “buy” rating on shares of Oric Pharmaceuticals in a research note on Monday, June 8th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Read Our Latest Stock Analysis on ORIC

Oric Pharmaceuticals Stock Up 24.9%

The company’s 50-day moving average price is $9.77 and its 200-day moving average price is $10.41. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -9.16 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). On average, sell-side analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oric Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Oric Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after acquiring an additional 977 shares in the last quarter. California State Teachers Retirement System grew its stake in Oric Pharmaceuticals by 3.9% during the 4th quarter. California State Teachers Retirement System now owns 33,959 shares of the company’s stock worth $278,000 after purchasing an additional 1,270 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Oric Pharmaceuticals by 1.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company’s stock worth $1,042,000 after purchasing an additional 1,985 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in Oric Pharmaceuticals by 100.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after purchasing an additional 2,000 shares during the period. Finally, Arizona State Retirement System increased its holdings in Oric Pharmaceuticals by 21.0% during the 4th 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 period. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

(Get Free Report)

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.

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