ORIC Pharmaceuticals (NASDAQ:ORIC) Trading 6.5% Higher

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s share price rose 6.5% on Tuesday . The stock traded as high as $10.15 and last traded at $9.98. Approximately 20,440 shares traded hands during trading, a decline of 96% from the average daily volume of 538,530 shares. The stock had previously closed at $9.37.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wedbush upped their price objective on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Cantor Fitzgerald initiated coverage on ORIC Pharmaceuticals in a report on Friday, February 23rd. They set an "overweight" rating for the company. JPMorgan Chase & Co. lowered their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, March 27th. Citigroup dropped their target price on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, HC Wainwright boosted their price target 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.00.

ORIC Pharmaceuticals Price Performance

The stock has a 50 day moving average price of $11.93 and a two-hundred day moving average price of $9.94. The company has a market capitalization of $647.91 million, a price-to-earnings ratio of -4.91 and a beta of 1.19.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.49). Sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vivo Capital LLC bought a new position in ORIC Pharmaceuticals in the third quarter valued at about $4,707,000. Alkeon Capital Management LLC grew its position in shares of ORIC Pharmaceuticals by 16.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company's stock worth $21,050,000 after buying an additional 500,000 shares during the period. Euclidean Capital LLC grew its position in shares of ORIC Pharmaceuticals by 32.4% during the 3rd quarter. Euclidean Capital LLC now owns 989,410 shares of the company's stock worth $5,986,000 after buying an additional 241,860 shares during the period. Strs Ohio bought a new stake in shares of ORIC Pharmaceuticals during the fourth quarter worth approximately $72,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in ORIC Pharmaceuticals in the fourth quarter valued at approximately $58,000. 95.05% of the stock is owned by institutional investors and hedge funds.

About ORIC Pharmaceuticals

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.