Oric Pharmaceuticals (NASDAQ:ORIC) Trading Up 6.2% - Still a Buy?

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) rose 6.2% on Monday . The stock traded as high as $9.78 and last traded at $9.88. Approximately 132,949 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 782,376 shares. The stock had previously closed at $9.31.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer dropped their target price on shares of Oric Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Oric Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating on shares of Oric Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Wedbush reiterated an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $19.17.

Oric Pharmaceuticals Stock Performance

The stock's 50-day moving average is $6.82 and its 200 day moving average is $7.68. The firm has a market cap of $893.96 million, a P/E ratio of -5.61 and a beta of 1.49.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.09. On average, research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Activity at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 32,466 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the transaction, the chief financial officer now directly owns 68,317 shares of the company's stock, valued at approximately $717,328.50. This represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Angie You bought 26,597 shares of Oric Pharmaceuticals stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $9.39 per share, with a total value of $249,745.83. Following the completion of the purchase, the director now owns 26,597 shares in the company, valued at approximately $249,745.83. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 40,000 shares of company stock worth $416,289 in the last quarter. Corporate insiders own 5.55% of the company's stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC boosted its stake in shares of Oric Pharmaceuticals by 56.0% during the 1st quarter. Jane Street Group LLC now owns 31,198 shares of the company's stock worth $174,000 after buying an additional 11,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Oric Pharmaceuticals by 1,331.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,179 shares of the company's stock worth $2,841,000 after buying an additional 473,600 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Oric Pharmaceuticals by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,784 shares of the company's stock worth $1,645,000 after buying an additional 24,778 shares during the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of Oric Pharmaceuticals during the 1st quarter worth about $1,133,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Oric Pharmaceuticals by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,201 shares of the company's stock worth $226,000 after buying an additional 3,131 shares during the last quarter. 95.05% of the stock is currently 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.