ORIC Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:ORIC)

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC - Get Free Report) saw unusually large options trading on Thursday. Stock investors bought 8,284 call options on the company. This is an increase of approximately 3,533% compared to the average daily volume of 228 call options.

Wall Street Analyst Weigh In

Several research firms have commented on ORIC. Cantor Fitzgerald reiterated an "overweight" rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a report on Thursday. Guggenheim reiterated a "buy" rating on shares of ORIC Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of ORIC Pharmaceuticals from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, HC Wainwright restated a "buy" rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Monday, May 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ORIC Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $19.17.

ORIC Pharmaceuticals Stock Up 3.6%

Shares of NASDAQ ORIC traded up $0.29 during trading on Friday, hitting $8.26. 3,617,326 shares of the company traded hands, compared to its average volume of 736,069. ORIC Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.67. The company has a 50-day moving average price of $5.38 and a 200-day moving average price of $7.70. The firm has a market capitalization of $587.19 million, a P/E ratio of -4.54 and a beta of 1.37.

ORIC Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. Research analysts predict that ORIC Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of ORIC Pharmaceuticals in the 4th quarter valued at about $50,000. Arizona State Retirement System acquired a new stake in ORIC Pharmaceuticals during the first quarter valued at approximately $56,000. BNP Paribas Financial Markets acquired a new stake in ORIC Pharmaceuticals during the fourth quarter valued at approximately $71,000. Hsbc Holdings PLC acquired a new stake in ORIC Pharmaceuticals during the first quarter valued at approximately $102,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company's stock valued at $109,000 after acquiring an additional 2,520 shares in the last quarter. 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.