Oric Pharmaceuticals (NASDAQ:ORIC) Trading 12.3% Higher - Here's What Happened

Key Points

• Oric Pharmaceuticals shares rose 12.3% to approximately $11.91 in midday trading, although volume was 85% below the average session level.
• Analyst sentiment is broadly positive: 13 analysts rate the stock a Buy, compared with two Holds and one Sell, producing a consensus “Moderate Buy” rating and a $19.27 price target.
• The company reported a quarterly loss of $0.38 per share, missing estimates by $0.02. Institutional investors and hedge funds own approximately 95.05% of the stock.

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report)'s share price rose 12.3% during mid-day trading on Tuesday . The company traded as high as $11.40 and last traded at $11.9080. 258,212 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,777,223 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several brokerages recently commented on ORIC. Stifel Nicolaus started coverage on shares of Oric Pharmaceuticals in a report on Friday, June 12th. They issued a "buy" rating and a $14.00 price target for the company. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $15.00 target price for the company in a research note on Friday, May 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oric Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Finally, Benchmark restated a "buy" rating on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.27.

Oric Pharmaceuticals Trading Up 24.9%

The company has a fifty day moving average price of $9.77 and a two-hundred day moving average price of $10.41. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -9.16 and a beta of 1.02.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, equities research analysts expect that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Institutional Trading of Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Oric Pharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company's stock valued at $39,000 after acquiring an additional 977 shares during the last quarter. California State Teachers Retirement System increased its stake in Oric Pharmaceuticals by 3.9% during the fourth quarter. California State Teachers Retirement System now owns 33,959 shares of the company's stock worth $278,000 after acquiring an additional 1,270 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Oric Pharmaceuticals by 1.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 128,649 shares of the company's stock worth $1,042,000 after acquiring an additional 1,985 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its position in Oric Pharmaceuticals by 100.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company's stock valued at $33,000 after purchasing an additional 2,000 shares during the period. Finally, Arizona State Retirement System raised its position in Oric Pharmaceuticals by 21.0% in the fourth quarter. Arizona State Retirement System now owns 12,163 shares of the company's stock valued at $99,000 after purchasing an additional 2,107 shares during the period. 95.05% of the stock is owned by institutional investors and hedge funds.

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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