ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up on Analyst Upgrade

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORICGet Free Report) gapped up prior to trading on Thursday after HC Wainwright raised their price target on the stock from $15.00 to $21.00. The stock had previously closed at $14.36, but opened at $15.16. HC Wainwright currently has a buy rating on the stock. ORIC Pharmaceuticals shares last traded at $15.20, with a volume of 37,516 shares.

A number of other equities analysts also recently issued reports on the stock. Wedbush increased their price target on shares of ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald initiated coverage on shares of ORIC Pharmaceuticals in a research note on Friday, February 23rd. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.25.

View Our Latest Report on ORIC

Insider Activity at ORIC Pharmaceuticals

In related news, CEO Jacob Chacko sold 13,958 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total transaction of $169,170.96. Following the completion of the sale, the chief executive officer now owns 794,586 shares of the company’s stock, valued at $9,630,382.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.34% of the stock is owned by insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ORIC. Vivo Capital LLC purchased a new stake in ORIC Pharmaceuticals in the third quarter worth approximately $4,707,000. Alkeon Capital Management LLC boosted 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 purchasing an additional 500,000 shares during the last quarter. Euclidean Capital LLC boosted its holdings in ORIC Pharmaceuticals by 32.4% in the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after purchasing an additional 241,860 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in ORIC Pharmaceuticals in the third quarter worth approximately $72,000. Finally, Boxer Capital LLC boosted its holdings in ORIC Pharmaceuticals by 64.4% in the second quarter. Boxer Capital LLC now owns 1,732,571 shares of the company’s stock worth $13,445,000 after purchasing an additional 678,571 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

ORIC Pharmaceuticals Stock Down 4.7 %

The company’s fifty day moving average is $12.27 and its 200-day moving average is $9.18. The company has a market cap of $937.26 million, a PE ratio of -7.10 and a beta of 1.04.

ORIC Pharmaceuticals (NASDAQ:ORICGet Free Report) last issued its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). Equities research analysts expect that ORIC Pharmaceuticals, Inc. will post -1.76 EPS for the current fiscal year.

About ORIC Pharmaceuticals

(Get Free Report)

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-533, an orally bioavailable small molecule inhibitor of CD73 being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer; and ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations.

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