Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 6.5% - Still a Buy?

Key Points

• Oric Pharmaceuticals shares were up 6.5% on Thursday, trading as high as $9.50 and last at $9.6350 on roughly 434,541 shares—about a 78% decline from its average daily volume.
• Analysts are largely positive—11 Buys, 2 Holds and 1 Sell—with a consensus price target of $19.90 and individual targets ranging from $15 to $25 (e.g., Oppenheimer $15, HC Wainwright $25, Piper Sandler $22).
• The company remains loss-making with a market cap of about $990.6M and a negative PE; it reported quarterly EPS of -$0.30, beating estimates of -$0.34, while the CFO sold 52,000 shares and insiders own 6.82% versus roughly 95.05% institutional ownership.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) shares rose 6.5% on Thursday . The company traded as high as $9.50 and last traded at $9.6350. Approximately 434,541 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,941,063 shares. The stock had previously closed at $9.05.

Analysts Set New Price Targets

ORIC has been the topic of a number of recent research reports. Oppenheimer reiterated an "outperform" rating and set a $15.00 price target on shares of Oric Pharmaceuticals in a research report on Tuesday, February 24th. HC Wainwright reiterated a "buy" rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a research report on Thursday, April 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. Citigroup increased their price target on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. Finally, Piper Sandler initiated coverage on shares of Oric Pharmaceuticals in a research report on Wednesday, January 7th. They set an "overweight" rating and a $22.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.90.

Oric Pharmaceuticals Price Performance

The stock has a market cap of $990.65 million, a PE ratio of -6.51 and a beta of 1.36. The business has a 50 day moving average price of $11.33 and a two-hundred day moving average price of $11.25.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.04. On average, sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total transaction of $702,520.00. Following the completion of the sale, the chief financial officer owned 68,148 shares of the company's stock, valued at approximately $920,679.48. This represents a 43.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.82% of the company's stock.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORIC. Royce & Associates LP raised its holdings in Oric Pharmaceuticals by 521.2% in the third quarter. Royce & Associates LP now owns 1,458,483 shares of the company's stock worth $17,502,000 after purchasing an additional 1,223,709 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Oric Pharmaceuticals by 12.5% in the second quarter. Alkeon Capital Management LLC now owns 4,504,096 shares of the company's stock worth $45,717,000 after purchasing an additional 500,000 shares in the last quarter. Stempoint Capital LP bought a new position in Oric Pharmaceuticals in the second quarter worth $2,038,000. Squarepoint Ops LLC bought a new position in Oric Pharmaceuticals in the second quarter worth $1,084,000. Finally, Rafferty Asset Management LLC raised its holdings in Oric Pharmaceuticals by 100.7% in the third quarter. Rafferty Asset Management LLC now owns 85,592 shares of the company's stock worth $1,027,000 after purchasing an additional 42,948 shares in the last quarter. Hedge funds and other institutional investors 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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