ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC – Get Free Report)’s stock price rose 4.2% on Tuesday . The stock traded as high as $9.90 and last traded at $9.90. Approximately 26,637 shares changed hands during trading, a decline of 95% from the average daily volume of 525,515 shares. The stock had previously closed at $9.50.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ORIC. Wedbush reiterated an “outperform” rating and set a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday, September 10th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, September 18th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research note on Friday, September 6th. They issued a “buy” rating and a $20.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Monday, September 23rd. Finally, Oppenheimer reduced their price objective on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $18.00.
Read Our Latest Stock Report on ORIC Pharmaceuticals
ORIC Pharmaceuticals Stock Performance
ORIC Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.03). On average, equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.8 EPS for the current fiscal year.
Hedge Funds Weigh In On ORIC Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of ORIC. Vanguard Group Inc. boosted 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 worth $39,628,000 after buying an additional 629,536 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in ORIC Pharmaceuticals by 140.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after buying an additional 915,175 shares during the last quarter. First Turn Management LLC boosted its holdings in shares of ORIC Pharmaceuticals by 38.1% during the 2nd quarter. First Turn Management LLC now owns 1,515,960 shares of the company’s stock valued at $10,718,000 after acquiring an additional 418,389 shares during the last quarter. NEA Management Company LLC purchased a new position in ORIC Pharmaceuticals in the first quarter worth about $20,625,000. Finally, Millennium Management LLC raised its stake in shares of ORIC Pharmaceuticals by 297.4% in the second quarter. Millennium Management LLC now owns 782,299 shares of the company’s stock worth $5,531,000 after buying an additional 585,447 shares during the period. 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.
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