Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Oric Pharmaceuticals, Inc. (ORIC) - ORIC currently holds a Momentum Style Score of B, indicating a positive momentum outlook [2] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, ORIC shares increased by 4.75%, outperforming the Zacks Medical - Biomedical and Genetics industry, which rose by 2.88% [5] - In the last quarter, ORIC shares surged by 140.04%, and over the past year, they gained 19.27%, while the S&P 500 only increased by 19.67% and 12.87%, respectively [6] - The average 20-day trading volume for ORIC is 896,080 shares, indicating a bullish sentiment as the stock is rising with above-average volume [7] Earnings Outlook - In the past two months, three earnings estimates for ORIC have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from -$1.98 to -$1.74 [9] - For the next fiscal year, two estimates have also moved upwards, with no downward revisions during the same period [9] Conclusion - Given the positive performance metrics and earnings outlook, ORIC is positioned as a promising investment opportunity with a Momentum Score of B and a Zacks Rank of 2 (Buy) [11]
Oric Pharmaceuticals, Inc. (ORIC) is a Great Momentum Stock: Should You Buy?