ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 5.6% – Should You Buy?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) were up 5.6% during trading on Thursday . The company traded as high as $10.34 and last traded at $10.43. Approximately 207,218 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 678,413 shares. The stock had previously closed at $9.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research note on Thursday, October 31st. They set an “overweight” rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Stock Performance

The company has a market cap of $729.69 million, a price-to-earnings ratio of -5.74 and a beta of 1.18. The company has a fifty day moving average of $8.97 and a two-hundred day moving average of $9.54.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.01). Equities analysts expect that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current fiscal year.

Insider Buying and Selling at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the transaction, the chief executive officer now owns 778,648 shares in the company, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The stock was sold at an average price of $8.28, for a total transaction of $73,278.00. Following the transaction, the insider now directly owns 46,765 shares of the company’s stock, valued at $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,361 shares of company stock worth $350,749. 5.55% of the stock is currently owned by company insiders.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently modified their holdings of ORIC. Creative Planning acquired a new position in ORIC Pharmaceuticals during the 3rd quarter worth approximately $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ORIC Pharmaceuticals during the third quarter worth approximately $132,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ORIC Pharmaceuticals by 71.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock worth $139,000 after purchasing an additional 5,646 shares in the last quarter. Intech Investment Management LLC acquired a new stake in ORIC Pharmaceuticals in the 3rd quarter valued at $200,000. Finally, XTX Topco Ltd bought a new stake in ORIC Pharmaceuticals during the 2nd quarter valued at $153,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

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.