Oric Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.86, but opened at $11.21. Oric Pharmaceuticals shares last traded at $10.8230, with a volume of 164,798 shares.

Analyst Upgrades and Downgrades

ORIC has been the topic of a number of research analyst reports. Wall Street Zen upgraded Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Thursday, January 22nd. Wells Fargo & Company upped their price target on Oric Pharmaceuticals from $19.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Oric Pharmaceuticals in a report on Friday, March 13th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.20.

Oric Pharmaceuticals Stock Down 0.1%

The firm has a fifty day moving average price of $11.52 and a two-hundred day moving average price of $11.27. The stock has a market capitalization of $1.09 billion, a P/E ratio of -7.15 and a beta of 1.28.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Transactions at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 52,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the transaction, the chief financial officer owned 68,148 shares in the company, valued at approximately $920,679.48. This represents a 43.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ORIC. Assetmark Inc. bought a new stake in shares of Oric Pharmaceuticals during the third quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 1,009 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Oric Pharmaceuticals by 100.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,000 shares of the company’s stock valued at $33,000 after purchasing an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 purchasing an additional 2,936 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Oric Pharmaceuticals in the third quarter worth $60,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.