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

Shares of Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) were 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 mid-day 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 have recently issued reports on the company. Wedbush decreased their target price on Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Citigroup dropped their price objective on shares of Oric Pharmaceuticals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 8th. The Goldman Sachs Group raised Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, May 15th. Finally, Stifel Nicolaus initiated coverage on shares of Oric Pharmaceuticals in a research report on Friday, June 12th. They set a “buy” rating and a $14.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

Oric Pharmaceuticals Price Performance

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -7.45 and a beta of 1.02. The firm’s fifty day moving average price is $9.11 and its 200-day moving average price is $10.19.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ORIC. Federation des caisses Desjardins du Quebec raised its holdings in shares of 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 acquiring an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position 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 valued at $37,000 after buying an additional 2,936 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Oric Pharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,732 shares of the company’s stock valued at $39,000 after acquiring an additional 977 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Oric Pharmaceuticals during the 3rd quarter worth $60,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in shares of Oric Pharmaceuticals in the 3rd quarter worth $65,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.