ORIC Pharmaceuticals (NASDAQ:ORIC) Trading Up 6.5%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shares shot up 6.5% during mid-day trading on Tuesday . The company traded as high as $10.15 and last traded at $9.98. 20,440 shares changed hands during trading, a decline of 96% from the average session volume of 538,530 shares. The stock had previously closed at $9.37.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ORIC shares. Wedbush raised their price objective on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Citigroup dropped their target price on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Cantor Fitzgerald started coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating on the stock. HC Wainwright upped their price objective on shares of ORIC Pharmaceuticals from $15.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

ORIC Pharmaceuticals Stock Down 1.0 %

The firm’s fifty day moving average price is $11.78 and its 200-day moving average price is $9.96. The stock has a market cap of $640.49 million, a P/E ratio of -4.85 and a beta of 1.19.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.49). Sell-side analysts predict that ORIC Pharmaceuticals, Inc. will post -1.75 earnings per share for the current year.

Hedge Funds Weigh In On ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vivo Capital LLC bought a new stake in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $4,707,000. Alkeon Capital Management LLC raised its holdings in ORIC Pharmaceuticals by 16.8% in the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after buying an additional 500,000 shares during the last quarter. Euclidean Capital LLC grew its holdings in shares of ORIC Pharmaceuticals by 32.4% during the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock valued at $5,986,000 after buying an additional 241,860 shares during the last quarter. Strs Ohio bought a new stake in shares of ORIC Pharmaceuticals during the fourth quarter valued at approximately $72,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in ORIC Pharmaceuticals during the 4th quarter valued at $58,000. Institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

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.