ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 8.4% – Should You Buy?

by · The Markets Daily

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report)’s share price was up 8.4% during trading on Tuesday . The company traded as high as $9.18 and last traded at $9.16. Approximately 776,238 shares traded hands during mid-day trading, an increase of 50% from the average daily volume of 517,187 shares. The stock had previously closed at $8.45.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on ORIC Pharmaceuticals

ORIC Pharmaceuticals Stock Up 6.5 %

The firm has a 50 day moving average of $9.76 and a 200 day moving average of $9.26. The firm has a market cap of $634.86 million, a PE ratio of -5.18 and a beta of 1.12.

ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last posted 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). On average, research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its holdings in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after acquiring an additional 5,646 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in ORIC Pharmaceuticals by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 137,962 shares of the company’s stock valued at $1,414,000 after acquiring an additional 35,528 shares during the period. Creative Planning bought a new stake in ORIC Pharmaceuticals during the 3rd quarter valued at $116,000. SG Americas Securities LLC bought a new position in shares of ORIC Pharmaceuticals in the third quarter worth $714,000. Finally, The Manufacturers Life Insurance Company increased 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 worth $929,000 after purchasing an additional 9,424 shares during the period. Institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

(Get Free Report)

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.

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