Free Trial

Oric Pharmaceuticals (NASDAQ:ORIC) Trading 10% Higher - Time to Buy?

Oric Pharmaceuticals logo with Medical background

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) traded up 10% during mid-day trading on Wednesday . The company traded as high as $11.12 and last traded at $11.16. 363,326 shares traded hands during trading, a decline of 54% from the average session volume of 789,991 shares. The stock had previously closed at $10.14.

Analyst Upgrades and Downgrades

ORIC has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a report on Monday, June 23rd. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price objective on shares of Oric Pharmaceuticals in a research note on Monday, May 5th. Oppenheimer cut 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 note on Tuesday, May 6th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Oric Pharmaceuticals in a research report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $19.17.

Check Out Our Latest Stock Report on Oric Pharmaceuticals

Oric Pharmaceuticals Stock Up 5.0%

The firm has a market capitalization of $907.59 million, a price-to-earnings ratio of -5.70 and a beta of 1.54. The stock's fifty day moving average is $7.36 and its two-hundred day moving average is $7.73.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Alkeon Capital Management LLC raised its stake in Oric Pharmaceuticals by 2.6% during the first quarter. Alkeon Capital Management LLC now owns 4,004,096 shares of the company's stock worth $22,343,000 after acquiring an additional 100,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock valued at $17,945,000 after buying an additional 12,098 shares during the period. Vivo Capital LLC increased its stake in shares of Oric Pharmaceuticals by 62.8% in the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock valued at $11,609,000 after buying an additional 802,632 shares during the period. Boxer Capital Management LLC acquired a new position in Oric Pharmaceuticals in the 4th quarter valued at approximately $13,982,000. Finally, NEA Management Company LLC increased its holdings in Oric Pharmaceuticals by 4.4% in the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock valued at $12,638,000 after purchasing an additional 66,081 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Oric Pharmaceuticals Right Now?

Before you consider Oric Pharmaceuticals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Oric Pharmaceuticals wasn't on the list.

While Oric Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth
5 Stocks to BUY NOW in July 2025
3 Defense Stocks Under $10 With Massive Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines