Oric Pharmaceuticals (NASDAQ:ORIC) Trading 6.5% Higher – Still a Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s share price traded up 6.5% during trading on Wednesday . The company traded as high as $11.22 and last traded at $11.24. 950,223 shares traded hands during trading, a decline of 47% from the average daily volume of 1,789,579 shares. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ORIC shares. Wedbush cut their price target on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Monday, June 8th. Stifel Nicolaus assumed coverage on shares of Oric Pharmaceuticals in a research note on Friday, June 12th. They issued a “buy” rating and a $14.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.27.

Oric Pharmaceuticals Price Performance

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.84 and a beta of 1.02. The firm has a fifty day simple moving average of $9.03 and a 200 day simple moving average of $10.16.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Monday, May 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.03). Research analysts predict that Oric Pharmaceuticals, Inc. will post -1.45 EPS for the current year.

Institutional Trading of Oric Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Orbimed Advisors LLC raised its position in shares of Oric Pharmaceuticals by 305.0% in the third quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock valued at $43,701,000 after buying an additional 2,742,475 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new position in Oric Pharmaceuticals during the fourth quarter worth about $19,642,000. Siren L.L.C. grew its stake in Oric Pharmaceuticals by 197.6% during the 1st quarter. Siren L.L.C. now owns 2,998,192 shares of the company’s stock valued at $37,987,000 after acquiring an additional 1,990,617 shares in the last quarter. State Street Corp grew its stake in Oric Pharmaceuticals by 77.1% during the 4th quarter. State Street Corp now owns 4,258,397 shares of the company’s stock valued at $34,834,000 after acquiring an additional 1,854,458 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Oric Pharmaceuticals by 48.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock valued at $55,802,000 after acquiring an additional 1,525,445 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Oric Pharmaceuticals Company Profile

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.