Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 5.4% - Time to Buy?

Key Points

• Oric Pharmaceuticals shares rose 5.4% on Friday, trading as high as $11.44 after closing at $10.89 the previous session, though volume was well below average.
• Analyst sentiment remains mostly positive: multiple firms have reiterated or upgraded to buy-equivalent ratings, and the stock carries a Moderate Buy consensus with a $19.27 average price target.
• The company remains a clinical-stage biopharmaceutical firm focused on oncology, but it recently reported a quarterly EPS loss of $0.34, missing expectations and underscoring that it is still unprofitable.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s share price rose 5.4% on Friday . The stock traded as high as $11.44 and last traded at $11.4820. 547,899 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,766,262 shares. The stock had previously closed at $10.89.

Wall Street Analyst Weigh In

Several brokerages recently commented on ORIC. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. The Goldman Sachs Group upgraded shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Friday, May 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. Benchmark restated a "buy" rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.27.

Oric Pharmaceuticals Stock Performance

The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -8.45 and a beta of 1.02. The company's 50 day simple moving average is $9.31 and its two-hundred day simple moving average is $10.28.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.03). On average, equities research analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Defilade Capital Management L.P. purchased a new position in Oric Pharmaceuticals in the first quarter valued at about $10,680,000. Bank of America Corp DE raised its stake in shares of Oric Pharmaceuticals by 105.5% during the 1st quarter. Bank of America Corp DE now owns 1,043,159 shares of the company's stock worth $13,217,000 after purchasing an additional 535,649 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Oric Pharmaceuticals by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 48,369 shares of the company's stock valued at $613,000 after buying an additional 14,410 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Oric Pharmaceuticals by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 182,139 shares of the company's stock valued at $2,308,000 after buying an additional 53,490 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Oric Pharmaceuticals by 9.3% in the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company's stock valued at $323,000 after buying an additional 2,170 shares in the last quarter. 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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