ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 14.7% – Still a Buy?

Shares of ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shot up 14.7% on Monday . The stock traded as high as $12.31 and last traded at $14.05. 232,817 shares were traded during trading, a decline of 72% from the average session volume of 845,912 shares. The stock had previously closed at $12.25.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of ORIC Pharmaceuticals in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on ORIC Pharmaceuticals from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of ORIC Pharmaceuticals in a research report on Monday, January 13th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research report on Tuesday, January 14th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.71.

ORIC Pharmaceuticals Price Performance

The company has a market capitalization of $666.89 million, a PE ratio of -5.25 and a beta of 1.21. The company has a 50-day moving average of $9.43 and a two-hundred day moving average of $9.62.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its 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). As a group, research analysts anticipate that ORIC Pharmaceuticals, Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $204,184.80. Following the sale, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $8.28, for a total value of $73,278.00. Following the completion of the sale, the insider now directly owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,361 shares of company stock valued at $350,749 over the last ninety days. 5.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Large investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of ORIC Pharmaceuticals in the fourth quarter worth about $50,000. PNC Financial Services Group Inc. increased its stake in ORIC Pharmaceuticals by 22.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after acquiring an additional 2,520 shares during the last quarter. Creative Planning bought a new stake in ORIC Pharmaceuticals during the third quarter worth approximately $116,000. China Universal Asset Management Co. Ltd. increased its stake in ORIC Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock worth $121,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in ORIC Pharmaceuticals during the third quarter worth approximately $132,000. 95.05% of the stock is owned by institutional investors.

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.