Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up – Should You Buy?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares gapped up prior to trading on Monday . The stock had previously closed at $11.00, but opened at $12.37. Oric Pharmaceuticals shares last traded at $10.9970, with a volume of 482,759 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research began coverage on shares of Oric Pharmaceuticals in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday. Guggenheim started coverage on shares of Oric Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Oric Pharmaceuticals from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Finally, HC Wainwright upped their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Ten 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Oric Pharmaceuticals Trading Down 2.4%

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -6.22 and a beta of 1.32. The stock has a 50-day moving average of $12.44 and a 200-day moving average of $10.84.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. As a group, research analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Transactions at Oric Pharmaceuticals

In other news, CEO Jacob Chacko sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief executive officer directly owned 656,419 shares in the company, valued at approximately $7,089,325.20. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dominic Piscitelli sold 11,000 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the transaction, the chief financial officer directly owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 261,000 shares of company stock valued at $3,024,703 over the last three months. 5.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in shares of Oric Pharmaceuticals by 17,300.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 2,422 shares in the last quarter. Assetmark Inc. acquired a new position in Oric Pharmaceuticals during the 3rd quarter valued at about $37,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock valued at $45,000 after buying an additional 1,009 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after buying an additional 1,372 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Oric Pharmaceuticals in the 3rd quarter worth approximately $60,000. Institutional investors own 95.05% of the company’s stock.

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.