ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 7.7% – What’s Next?

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC)’s stock price traded up 7.7% during trading on Wednesday . The company traded as high as $11.11 and last traded at $11.05. 49,309 shares changed hands during trading, a decline of 90% from the average session volume of 515,048 shares. The stock had previously closed at $10.26.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ORIC shares. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Monday, November 4th. Wells Fargo & Company assumed coverage on ORIC Pharmaceuticals in a research report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price objective for the company. Oppenheimer reduced their target price on ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Monday, September 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of ORIC Pharmaceuticals in a research note on Tuesday. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, ORIC Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $18.29.

ORIC Pharmaceuticals Trading Up 0.5 %

The firm’s 50-day moving average price is $9.71 and its 200 day moving average price is $9.32.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted 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). Research analysts expect that ORIC Pharmaceuticals, Inc. will post -1.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ORIC Pharmaceuticals by 162.3% during the second 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 raised its holdings in 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 buying an additional 7,440 shares during the last quarter. Creative Planning acquired a new stake in shares of ORIC Pharmaceuticals in the 3rd quarter worth about $116,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in ORIC Pharmaceuticals in the 3rd quarter valued at about $132,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in ORIC Pharmaceuticals by 71.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,568 shares of the company’s stock valued at $139,000 after purchasing an additional 5,646 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

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.