ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 5.5%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) was up 5.5% during trading on Wednesday . The stock traded as high as $9.78 and last traded at $9.59. Approximately 41,242 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 525,234 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

ORIC has been the subject of several recent analyst reports. HC Wainwright increased their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Wedbush increased their target price on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. JPMorgan Chase & Co. cut their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, March 27th. Cantor Fitzgerald assumed coverage on shares of ORIC Pharmaceuticals in a research report on Friday, February 23rd. They issued an "overweight" rating for the company. Finally, Citigroup dropped their price target on shares of ORIC Pharmaceuticals from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ORIC Pharmaceuticals presently has an average rating of "Buy" and an average target price of $20.00.

ORIC Pharmaceuticals Stock Performance

The company has a market cap of $627.68 million, a price-to-earnings ratio of -5.17 and a beta of 1.19. The firm's 50-day moving average price is $11.41 and its 200 day moving average price is $10.07.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts' consensus estimates of ($0.49). As a group, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of ORIC Pharmaceuticals by 140.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company's stock valued at $21,543,000 after purchasing an additional 915,175 shares during the last quarter. Vivo Capital LLC acquired a new stake in ORIC Pharmaceuticals during the 3rd quarter valued at approximately $4,707,000. Vanguard Group Inc. increased its position in ORIC Pharmaceuticals by 27.9% during the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company's stock valued at $39,628,000 after purchasing an additional 629,536 shares during the period. 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. Finally, 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. Institutional investors own 95.05% of the company's stock.

ORIC Pharmaceuticals Company Profile

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.

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