ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 4.2%

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Wedbush increased their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. HC Wainwright increased their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald assumed coverage on ORIC Pharmaceuticals in a research note on Friday, February 23rd. They issued an “overweight” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $19.80.

ORIC Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $12.68 and a 200 day moving average price of $9.61. The company has a market cap of $670.39 million, a price-to-earnings ratio of -5.04 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.49). Sell-side analysts expect that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jacob Chacko sold 13,958 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total transaction 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 approximately $9,630,382.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.34% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new position in shares of ORIC Pharmaceuticals during the 4th quarter worth $666,000. Goldman Sachs Group Inc. raised its holdings in shares of ORIC Pharmaceuticals by 5.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 50,788 shares of the company’s stock worth $467,000 after buying an additional 2,632 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ORIC Pharmaceuticals by 1,344.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 651,561 shares of the company’s stock worth $5,995,000 after buying an additional 606,446 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in shares of ORIC Pharmaceuticals during the 4th quarter worth $93,000. Finally, Barclays PLC raised its holdings in shares of ORIC Pharmaceuticals by 602.5% during the 4th quarter. Barclays PLC now owns 54,199 shares of the company’s stock worth $499,000 after buying an additional 46,484 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.