ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 7.6% - Still a Buy?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) traded up 7.6% on Wednesday . The company traded as high as $9.06 and last traded at $9.04. 1,348,448 shares changed hands during mid-day trading, an increase of 80% from the average session volume of 750,480 shares. The stock had previously closed at $8.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, May 5th. Guggenheim reaffirmed a "buy" rating on shares of ORIC Pharmaceuticals in a report on Wednesday, February 26th. Oppenheimer lowered their target price on ORIC Pharmaceuticals from $15.00 to $12.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ORIC Pharmaceuticals in a report on Tuesday, May 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Thursday, May 29th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $19.17.

ORIC Pharmaceuticals Trading Up 4.0%

The stock has a market cap of $677.47 million, a price-to-earnings ratio of -5.19 and a beta of 1.49. The stock has a fifty day simple moving average of $5.60 and a 200-day simple moving average of $7.70.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.09. Sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of ORIC Pharmaceuticals by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock worth $5,788,000 after purchasing an additional 103,237 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of ORIC Pharmaceuticals by 6.9% during the 4th quarter. Wellington Management Group LLP now owns 186,430 shares of the company's stock worth $1,504,000 after purchasing an additional 12,042 shares in the last quarter. Sphera Funds Management LTD. grew its holdings in shares of ORIC Pharmaceuticals by 112.8% during the 4th quarter. Sphera Funds Management LTD. now owns 273,213 shares of the company's stock worth $2,205,000 after purchasing an additional 144,817 shares in the last quarter. Diadema Partners LP acquired a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth approximately $1,729,000. Finally, NEOS Investment Management LLC acquired a new stake in shares of ORIC Pharmaceuticals during the 4th quarter worth approximately $367,000. Institutional investors and hedge funds own 95.05% of the company's stock.

ORIC Pharmaceuticals Company Profile

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.