ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Up 4.5% – Should You Buy?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shot up 4.5% on Monday . The company traded as high as $9.78 and last traded at $9.75. 19,974 shares traded hands during trading, a decline of 96% from the average session volume of 520,661 shares. The stock had previously closed at $9.33.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 target price on the stock. Oppenheimer decreased their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has an average rating of “Buy” and a consensus target price of $18.00.

ORIC Pharmaceuticals Trading Down 0.2 %

The business has a 50-day moving average of $9.82 and a 200 day moving average of $9.40. The firm has a market capitalization of $641.86 million, a P/E ratio of -5.29 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ORIC Pharmaceuticals by 162.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after acquiring an additional 3,188 shares in the last quarter. Profund Advisors LLC boosted its stake in ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after purchasing an additional 4,175 shares during the last quarter. Victory Capital Management Inc. increased its holdings in ORIC Pharmaceuticals by 8.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,850 shares of the company’s stock worth $678,000 after purchasing an additional 7,310 shares in the last quarter. Quest Partners LLC raised its stake in shares of ORIC Pharmaceuticals by 253.2% in the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of ORIC Pharmaceuticals by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 131,350 shares of the company’s stock valued at $929,000 after purchasing an additional 9,424 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.