Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 7.8% – What’s Next?

Oric Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price shot up 7.8% during trading on Friday . The company traded as high as $9.15 and last traded at $9.11. 201,414 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,158,608 shares. The stock had previously closed at $8.45.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Oric Pharmaceuticals from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Wall Street Zen lowered shares of Oric Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Wolfe Research initiated coverage on shares of Oric Pharmaceuticals in a research report on Tuesday, November 18th. They set a “peer perform” rating for the company. Citigroup upped their price objective on shares of Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Finally, Piper Sandler began coverage on shares of Oric Pharmaceuticals in a report on Wednesday. They issued an “overweight” rating and a $22.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.90.

Oric Pharmaceuticals Price Performance

The firm has a market cap of $891.12 million, a PE ratio of -5.29 and a beta of 1.36. The company’s 50 day moving average price is $10.30 and its 200 day moving average price is $10.85.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.08. Sell-side analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Dominic Piscitelli sold 10,720 shares of Oric Pharmaceuticals stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $97,123.20. Following the completion of the transaction, the chief financial officer directly owned 68,148 shares in the company, valued at approximately $617,420.88. This trade represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 33,374 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $9.06, for a total value of $302,368.44. Following the sale, the chief executive officer owned 581,711 shares in the company, valued at approximately $5,270,301.66. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,814 shares of company stock worth $496,615. Corporate insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after acquiring an additional 2,422 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of Oric Pharmaceuticals during the 3rd quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 worth $45,000 after purchasing an additional 1,009 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Oric Pharmaceuticals during the third quarter worth $60,000. Finally, ANTIPODES PARTNERS Ltd increased its holdings in Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares during the last quarter. Institutional investors and hedge funds 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.