ORIC Pharmaceuticals (NASDAQ:ORIC) Sees Strong Trading Volume

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shares saw an uptick in trading volume on Wednesday . 567,312 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 533,951 shares.The stock last traded at $10.76 and had previously closed at $10.75.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ORIC. Oppenheimer lowered their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Wednesday, September 18th. Stifel Nicolaus began coverage on shares of ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 target price on the stock. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, ORIC Pharmaceuticals has a consensus rating of “Buy” and an average target price of $18.00.

ORIC Pharmaceuticals Stock Down 3.1 %

The firm’s 50 day moving average price is $10.06 and its two-hundred day moving average price is $9.88.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.03). As a group, sell-side analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current year.

Institutional Trading of ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. NEA Management Company LLC purchased a new position in ORIC Pharmaceuticals during the first quarter worth about $20,625,000. Price T Rowe Associates Inc. MD boosted its position in shares of ORIC Pharmaceuticals by 140.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after purchasing an additional 915,175 shares during the period. Vanguard Group Inc. increased its holdings in ORIC Pharmaceuticals by 27.9% in the 1st quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock valued at $39,628,000 after purchasing an additional 629,536 shares during the last quarter. Millennium Management LLC raised its position in ORIC Pharmaceuticals by 297.4% in the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock valued at $5,531,000 after purchasing an additional 585,447 shares during the period. Finally, First Turn Management LLC lifted its stake in ORIC Pharmaceuticals by 38.1% during the second quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock worth $10,718,000 after purchasing an additional 418,389 shares in the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.