ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 4.2%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price rose 4.2% on Wednesday . The stock traded as high as $9.95 and last traded at $9.85. Approximately 174,442 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 549,840 shares. The stock had previously closed at $9.45.

Analysts Set New Price Targets

ORIC has been the subject of several recent analyst reports. HC Wainwright lifted their price target on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Wedbush lifted their price target on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald initiated coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus target price of $19.80.

ORIC Pharmaceuticals Stock Performance

The company has a 50 day simple moving average of $12.57 and a 200 day simple moving average of $9.63. The company has a market capitalization of $605.07 million, a PE ratio of -4.53 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). As a group, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current year.

Insider Activity

In other news, CEO Jacob Chacko sold 13,958 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total value of $169,170.96. Following the completion of the sale, the chief executive officer now directly owns 794,586 shares in the company, valued at $9,630,382.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.34% of the company’s stock.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of large investors have recently made changes to their positions in ORIC. Ameritas Investment Partners Inc. purchased a new stake in shares of ORIC Pharmaceuticals in the second quarter valued at approximately $25,000. UBS Group AG lifted its holdings in ORIC Pharmaceuticals by 3,233.1% in the fourth quarter. UBS Group AG now owns 4,433 shares of the company’s stock valued at $26,000 after acquiring an additional 4,300 shares during the last quarter. Group One Trading L.P. acquired a new position in ORIC Pharmaceuticals in the first quarter valued at approximately $26,000. Acadian Asset Management LLC acquired a new position in ORIC Pharmaceuticals in the first quarter valued at approximately $29,000. Finally, Royal Bank of Canada lifted its holdings in ORIC Pharmaceuticals by 67,750.0% in the second quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock valued at $32,000 after acquiring an additional 4,065 shares during the last quarter. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

About ORIC Pharmaceuticals

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.