Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Oric Pharmaceuticals (NASDAQ:ORIC) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $17.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 69.56% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. Wolfe Research began coverage on Oric Pharmaceuticals in a research note on Tuesday. They issued a “peer perform” rating on the stock. HC Wainwright upped their price objective on Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen raised Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Guggenheim started coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They set a “buy” rating and a $18.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Oric Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $18.25.

Oric Pharmaceuticals Stock Performance

Shares of Oric Pharmaceuticals stock traded down $0.27 during trading hours on Tuesday, reaching $11.80. 235,261 shares of the company were exchanged, compared to its average volume of 1,157,683. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The stock’s fifty day moving average is $12.23 and its 200 day moving average is $10.23. The firm has a market cap of $1.15 billion, a PE ratio of -6.80 and a beta of 1.66.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. Research analysts expect that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 11,000 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $14.52, for a total transaction of $159,720.00. Following the sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $12.32, for a total transaction of $461,519.52. Following the transaction, the chief executive officer owned 531,419 shares in the company, valued at $6,547,082.08. The trade was a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 261,000 shares of company stock worth $3,024,703 over the last 90 days. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ORIC. Nisa Investment Advisors LLC increased its stake in Oric Pharmaceuticals by 17,300.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after purchasing an additional 2,422 shares in the last quarter. Assetmark Inc. acquired a new position in shares of Oric Pharmaceuticals during the 3rd quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Oric Pharmaceuticals by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after buying an additional 1,009 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Oric Pharmaceuticals in the 3rd quarter worth about $60,000. Finally, ANTIPODES PARTNERS Ltd grew its stake in Oric Pharmaceuticals by 35.9% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after acquiring an additional 1,372 shares during the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

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.