Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $26.00

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $23.00 to $26.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 129.89% from the company’s previous close.

A number of other brokerages also recently issued reports on ORIC. Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. HC Wainwright boosted their price objective on shares of Oric Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. Leerink Partners assumed coverage on shares of Oric Pharmaceuticals in a research note on Monday, October 5th. They set an “outperform” rating and a $26.00 target price for the company. Finally, BTIG Research began coverage on shares of Oric Pharmaceuticals in a research note on Wednesday, September 23rd. They set a “buy” rating and a $26.00 target price for the company. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.17.

Oric Pharmaceuticals Price Performance

ORIC stock opened at $11.31 on Wednesday. The business has a fifty day moving average of $13.01 and a two-hundred day moving average of $10.90. Oric Pharmaceuticals has a 52-week low of $7.23 and a 52-week high of $14.68.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). Sell-side analysts forecast that Oric Pharmaceuticals will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 13,400 shares of Oric Pharmaceuticals stock in a transaction on Monday, September 28th. The stock was sold at an average price of $13.53, for a total value of $181,302.00. Following the completion of the sale, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at approximately $944,772.84. The trade was a 16.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,000 shares of company stock valued at $1,243,532 over the last ninety days. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Oric Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in Oric Pharmaceuticals during the 2nd quarter valued at about $899,000. Engineers Gate Manager LP acquired a new position in Oric Pharmaceuticals in the 2nd quarter valued at about $694,000. Integrated Wealth Concepts LLC acquired a new position in Oric Pharmaceuticals in the 2nd quarter valued at about $38,000. Squarepoint Ops LLC purchased a new stake in Oric Pharmaceuticals during the second quarter worth about $3,729,000. Finally, AXQ Capital LP purchased a new stake in Oric Pharmaceuticals during the second quarter worth about $396,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc (NASDAQ: ORIC) is a clinical-stage biopharmaceutical company focused on developing therapies for cancer. The company’s research is centered on mechanisms that enable tumors to resist or evade treatment, with the goal of restoring sensitivity to established cancer therapies and improving patient outcomes.

Oric’s pipeline has included investigational small-molecule therapies designed to target cancer biology and treatment resistance. These programs include ORIC-533, an oral inhibitor of CD73 being studied in oncology, and ORIC-944, an oral allosteric inhibitor of EED, a component of the polycomb repressive complex 2.