Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 5.4% – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC) shares were up 5.4% on Friday . The stock traded as high as $11.44 and last traded at $11.4820. Approximately 547,899 shares changed hands during trading, a decline of 69% from the average session volume of 1,766,262 shares. The stock had previously closed at $10.89.

Analyst Ratings Changes

Several analysts have commented on ORIC shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a research report on Friday, May 22nd. Benchmark restated a “buy” rating on shares of Oric Pharmaceuticals in a report on Monday, June 8th. The Goldman Sachs Group raised shares of Oric Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, May 15th. Wall Street Zen cut shares of Oric Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, Wedbush lowered their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.27.

Oric Pharmaceuticals Stock Performance

The company has a market capitalization of $1.26 billion, a P/E ratio of -8.45 and a beta of 1.02. The company has a 50-day simple moving average of $9.31 and a 200 day simple moving average of $10.28.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.03). As a group, sell-side analysts forecast that Oric Pharmaceuticals, Inc. will post -1.45 earnings per share for the current year.

Institutional Trading of Oric Pharmaceuticals

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

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.