Oric Pharmaceuticals (NASDAQ:ORIC) Sets New 12-Month High - Here's Why

Key Points

• Oric Pharmaceuticals shares reached a new 52-week high of $15.00 during Thursday trading, valuing the clinical-stage biotech at approximately $1.46 billion.
• Analyst sentiment remains broadly positive: 13 analysts rate the stock a Buy, with a consensus rating of “Moderate Buy” and an average price target of $19.45.
• The company reported a quarterly loss of $0.38 per share, missing estimates by $0.02, while institutional investors and hedge funds own a substantial 95.05% of outstanding shares.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.00 and last traded at $14.4240, with a volume of 379 shares. The stock had previously closed at $14.65.

Wall Street Analyst Weigh In

ORIC has been the subject of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Citigroup decreased their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen raised Oric Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. The Goldman Sachs Group upgraded Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a research note on Friday, May 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Oric Pharmaceuticals in a report on Friday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.45.

Oric Pharmaceuticals Stock Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of -10.50 and a beta of 1.02. The firm's fifty day moving average is $11.10 and its 200-day moving average is $10.57.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued 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). As a group, analysts expect that Oric Pharmaceuticals, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several hedge funds have recently modified their holdings of ORIC. Federation des caisses Desjardins du Quebec increased its holdings in Oric Pharmaceuticals by 100.0% in 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Oric Pharmaceuticals by 184.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company's stock worth $37,000 after purchasing an additional 2,936 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Oric Pharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company's stock worth $39,000 after purchasing an additional 977 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Oric Pharmaceuticals in the second quarter valued at approximately $46,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Oric Pharmaceuticals in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 95.05% of the company's stock.

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.

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