ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Gap Up to $9.48

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shares gapped up prior to trading on Friday . The stock had previously closed at $9.48, but opened at $9.81. ORIC Pharmaceuticals shares last traded at $9.55, with a volume of 24,130 shares changing hands.

Analyst Ratings Changes

ORIC has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Thursday, June 20th. Stifel Nicolaus started coverage on ORIC Pharmaceuticals in a research note on Friday. They set a “buy” rating and a $20.00 target price on the stock. Oppenheimer reduced their price target on shares of ORIC Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of ORIC Pharmaceuticals in a research report on Wednesday, August 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, 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 market capitalization of $637.14 million, a price-to-earnings ratio of -5.27 and a beta of 1.12. The stock’s 50 day simple moving average is $9.62 and its 200-day simple moving average is $10.17.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released 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, equities research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.78 earnings per share for the current fiscal year.

Institutional Trading of ORIC Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ORIC Pharmaceuticals by 162.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,152 shares of the company’s stock worth $36,000 after purchasing an additional 3,188 shares during the last quarter. Quest Partners LLC lifted its stake in shares of ORIC Pharmaceuticals by 253.2% in 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. ProShare Advisors LLC bought a new stake in shares of ORIC Pharmaceuticals during the 1st quarter worth $161,000. China Universal Asset Management Co. Ltd. grew its stake in ORIC Pharmaceuticals by 104.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,922 shares of the company’s stock valued at $178,000 after buying an additional 6,617 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in ORIC Pharmaceuticals in the 1st quarter worth $225,000. Institutional investors 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.