ORIC Pharmaceuticals (NASDAQ:ORIC) Trading 11.6% Higher

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shot up 11.6% on Thursday . The stock traded as high as $12.23 and last traded at $11.91. 121,728 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 526,514 shares. The stock had previously closed at $10.67.

Analyst Ratings Changes

ORIC has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Tuesday, September 10th. Oppenheimer cut their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Monday, September 9th. Finally, Stifel Nicolaus began coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.00.

ORIC Pharmaceuticals Stock Up 8.4 %

The stock has a market cap of $780.07 million, a PE ratio of -6.48 and a beta of 1.12. The business’s 50-day simple moving average is $10.01 and its 200-day simple moving average is $10.05.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.03). As a group, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ORIC Pharmaceuticals by 162.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after buying an additional 3,188 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of ORIC Pharmaceuticals by 253.2% during the 2nd quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock valued at $73,000 after buying an additional 7,440 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of ORIC Pharmaceuticals during the 1st quarter valued at $161,000. China Universal Asset Management Co. Ltd. grew its position in shares of ORIC Pharmaceuticals by 104.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock worth $178,000 after buying an additional 6,617 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of ORIC Pharmaceuticals in the 1st quarter worth about $225,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

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.