Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 8.8% - Here's Why

Key Points

• ORIC jumped 8.8% to $12.68 on Tuesday amid heavier analyst support — multiple firms raised price targets (several to $20–$25) and the consensus rating is a Moderate Buy with a $20.20 target.
• Oric beat quarterly expectations with EPS of ($0.30) vs. a ($0.34) estimate, but remains unprofitable with a projected -2.17 EPS for the year and a market cap of about $1.25 billion.
• Insider selling has been notable recently: the CEO and CFO sold shares (33,374 and 52,000 shares respectively) and insiders disposed of 106,814 shares in the past 90 days, while institutions own roughly 95% of the stock.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) rose 8.8% on Tuesday . The stock traded as high as $12.71 and last traded at $12.68. Approximately 1,150,495 shares changed hands during trading, a decline of 32% from the average daily volume of 1,690,300 shares. The stock had previously closed at $11.65.

Analyst Ratings Changes

ORIC has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Oric Pharmaceuticals from $19.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, December 8th. HC Wainwright lifted their price objective on shares of Oric Pharmaceuticals from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. boosted their price objective on shares of Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an "overweight" rating in a research report on Tuesday, November 18th. Evercore assumed coverage on shares of Oric Pharmaceuticals in a research note on Thursday, November 20th. They issued an "outperform" rating and a $25.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Oric Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Oric Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.20.

Oric Pharmaceuticals Trading Up 6.6%

The stock has a market capitalization of $1.25 billion, a P/E ratio of -8.17 and a beta of 1.28. The stock has a 50 day moving average of $10.99 and a 200-day moving average of $11.18.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Research analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Activity

In related news, CEO Jacob Chacko sold 33,374 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $9.06, for a total transaction of $302,368.44. Following the completion of the sale, the chief executive officer owned 581,711 shares in the company, valued at $5,270,301.66. This trade represents a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dominic Piscitelli sold 52,000 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were 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 directly owned 68,148 shares of the company's stock, valued at approximately $920,679.48. This trade represents a 43.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 106,814 shares of company stock valued at $1,199,135. 5.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oric Pharmaceuticals

A number of institutional investors have recently modified their holdings of ORIC. Corient Private Wealth LLC bought a new stake in shares of Oric Pharmaceuticals during the fourth quarter valued at approximately $102,000. Invesco Ltd. grew its stake in Oric Pharmaceuticals by 19.8% in the fourth quarter. Invesco Ltd. now owns 109,742 shares of the company's stock worth $898,000 after purchasing an additional 18,128 shares in the last quarter. XTX Topco Ltd purchased a new position in Oric Pharmaceuticals during the 4th quarter worth $904,000. VARCOV Co. purchased a new position in Oric Pharmaceuticals during the 4th quarter worth $262,000. Finally, Virtus Investment Advisers LLC raised its position in Oric Pharmaceuticals by 141.0% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,361 shares of the company's stock valued at $232,000 after purchasing an additional 16,594 shares in the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

About Oric Pharmaceuticals

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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