ORIC Pharmaceuticals (NASDAQ:ORIC) Stock Price Up 11.6%

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Wednesday. Stifel Nicolaus initiated coverage on ORIC Pharmaceuticals in a research report on Friday, September 6th. They set a “buy” rating and a $20.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Tuesday, September 10th. Finally, Oppenheimer reduced their target price on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $18.00.

ORIC Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $10.06 and a 200 day moving average price of $10.03.

ORIC Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data 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, analysts expect that ORIC Pharmaceuticals, Inc. will post -1.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ORIC Pharmaceuticals by 162.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock valued at $36,000 after acquiring an additional 3,188 shares in the last quarter. Quest Partners LLC lifted its stake in shares of ORIC Pharmaceuticals by 253.2% during the second quarter. Quest Partners LLC now owns 10,378 shares of the company’s stock worth $73,000 after purchasing an additional 7,440 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of ORIC Pharmaceuticals in the second quarter worth about $153,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of ORIC Pharmaceuticals in the second quarter valued at about $154,000. Finally, Profund Advisors LLC raised its holdings in shares of ORIC Pharmaceuticals by 23.6% during the 2nd quarter. Profund Advisors LLC now owns 21,861 shares of the company’s stock valued at $155,000 after buying an additional 4,175 shares during the period. 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.