ORIC Pharmaceuticals Inc. (ORIC) shares are trading at higher $24.01 and the avg recommendation for the stock is Strong Buy.
To add more color to this target, the company’s high over the last year is $40.67 and the low is $18.60 while the S&P 500 is up 15.68%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ORIC has a short ratio of 23.99 and outstanding shares of 30.32M.
ORIC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.42 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.59. ORIC Pharmaceuticals Inc. ORIC also noted assets of $191.66 million at the end of the last quarter. Investors should also keep an eye on sector updates as ORIC has historically followed its peers on positive news.
All told, ORIC Pharmaceuticals Inc. ORIC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ORIC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
ORIC Pharmaceuticals Inc. ORIC is now commanding a market cap of 739.99M and a float of 20.10M. ORIC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ORIC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in ORIC, either long or short, and we have not been compensated for this article.