ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 5.8%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price rose 5.8% on Tuesday . The stock traded as high as $8.74 and last traded at $8.71. Approximately 42,644 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 538,831 shares. The stock had previously closed at $8.23.

Analyst Ratings Changes

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

ORIC Pharmaceuticals Price Performance

The stock’s 50 day moving average price is $12.07 and its two-hundred day moving average price is $9.80. The firm has a market capitalization of $602.73 million, a price-to-earnings ratio of -4.51 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, hitting analysts’ consensus estimates of ($0.49). As a group, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jacob Chacko sold 13,958 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total transaction of $169,170.96. Following the transaction, the chief executive officer now owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ORIC. AJOVista LLC bought a new stake in ORIC Pharmaceuticals in the 4th quarter valued at $40,000. China Universal Asset Management Co. Ltd. bought a new stake in ORIC Pharmaceuticals in the 4th quarter valued at $58,000. Strs Ohio bought a new stake in ORIC Pharmaceuticals in the 4th quarter valued at $72,000. Sherbrooke Park Advisers LLC bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $72,000. Finally, Algert Global LLC bought a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $81,000. Institutional investors own 95.05% of the company’s stock.

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.