ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 14.7% – Still a Buy?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shot up 14.7% on Monday . The stock traded as high as $12.31 and last traded at $14.05. 232,817 shares traded hands during trading, a decline of 72% from the average session volume of 845,912 shares. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ORIC. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Wells Fargo & Company began coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Guggenheim restated a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.71.

ORIC Pharmaceuticals Price Performance

The stock has a market cap of $666.89 million, a PE ratio of -5.25 and a beta of 1.21. The business has a fifty day moving average of $9.43 and a 200-day moving average of $9.62.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). As a group, equities research analysts predict that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $204,184.80. Following the completion of the sale, the chief executive officer now owns 778,648 shares in the company, valued at $6,447,205.44. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pratik S. Multani sold 8,850 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the transaction, the insider now directly owns 46,765 shares in the company, valued at approximately $387,214.20. The trade was a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock worth $350,749 over the last 90 days. Company insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of large investors have recently made changes to their positions in ORIC. KLP Kapitalforvaltning AS acquired a new position in shares of ORIC Pharmaceuticals during the fourth quarter worth $50,000. PNC Financial Services Group Inc. increased its position in shares of ORIC Pharmaceuticals by 22.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock valued at $109,000 after acquiring an additional 2,520 shares during the period. Creative Planning acquired a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $116,000. China Universal Asset Management Co. Ltd. increased its position in shares of ORIC Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after acquiring an additional 1,395 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ORIC Pharmaceuticals in the 3rd quarter valued at $132,000. 95.05% of the stock is owned by institutional investors and hedge funds.

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.