Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 6.5% – Still a Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares traded up 6.5% during mid-day trading on Thursday . The company traded as high as $9.50 and last traded at $9.6350. 434,541 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,941,063 shares. The stock had previously closed at $9.05.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wedbush decreased their price objective on Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of Oric Pharmaceuticals in a report on Tuesday, February 24th. Wall Street Zen upgraded Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup raised their price target on Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Piper Sandler assumed coverage on Oric Pharmaceuticals in a report on Wednesday, January 7th. They set an “overweight” rating and a $22.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Stock Up 9.1%

The firm has a fifty day moving average price of $11.33 and a two-hundred day moving average price of $11.25. The stock has a market capitalization of $990.65 million, a P/E ratio of -6.51 and a beta of 1.36.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. Sell-side analysts anticipate that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Dominic Piscitelli sold 52,000 shares of Oric Pharmaceuticals stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $13.51, for a total value of $702,520.00. Following the completion of the sale, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $920,679.48. This trade represents a 43.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Large investors have recently bought and sold shares of the business. Assetmark Inc. bought a new stake in Oric Pharmaceuticals in the 3rd quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after buying an additional 1,009 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in Oric Pharmaceuticals by 100.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock worth $33,000 after buying an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Oric Pharmaceuticals by 184.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,528 shares of the company’s stock worth $37,000 after buying an additional 2,936 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $60,000. 95.05% of the stock is currently owned by institutional investors.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.