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

Oric Pharmaceuticals (NASDAQ:ORIC) had its target price increased by equities researchers at JPMorgan Chase & Co. from $23.00 to $26.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 129.89% from the company’s current price.

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

Oric Pharmaceuticals Price Performance

Shares of ORIC stock opened at $11.31 on Wednesday. Oric Pharmaceuticals has a 52 week low of $7.23 and a 52 week high of $14.68. The firm has a 50 day moving average of $13.01 and a two-hundred day moving average of $10.90.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.02). As a group, analysts anticipate that Oric Pharmaceuticals will post -1.53 EPS for the current year.

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 77,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $13.69, for a total value of $1,054,130.00. Following the sale, the chief financial officer directly owned 69,828 shares of the company’s stock, valued at approximately $955,945.32. This represents a 52.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 91,000 shares of company stock worth $1,243,532. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors have recently modified their holdings of ORIC. Quantinno Capital Management LP lifted its holdings in Oric Pharmaceuticals by 9.3% during the 1st quarter. Quantinno Capital Management LP now owns 25,526 shares of the company’s stock worth $323,000 after buying an additional 2,170 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Oric Pharmaceuticals by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 190,470 shares of the company’s stock worth $2,413,000 after acquiring an additional 2,549 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Oric Pharmaceuticals during the 2nd quarter worth about $38,000. Quantbot Technologies LP purchased a new position in shares of Oric Pharmaceuticals in the 2nd quarter valued at about $46,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Oric Pharmaceuticals by 17.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,470 shares of the company’s stock valued at $687,000 after acquiring an additional 9,231 shares during the last quarter. 95.05% of the stock is owned by hedge funds and other institutional investors.

Oric Pharmaceuticals Company Profile

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.