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

by · The Markets Daily

Oric Pharmaceuticals (NASDAQ:ORIC – Free Report) had its target price boosted by JPMorgan Chase & Co. from $23.00 to $26.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ORIC has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright upped their price objective on Oric Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 10th. BTIG Research initiated coverage on Oric Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $26.00 price objective on the stock. 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 objective on the stock. Finally, Wall Street Zen raised Oric Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.17.

Read Our Latest Stock Report on Oric Pharmaceuticals

Oric Pharmaceuticals Stock Down 3.3%

Shares of NASDAQ ORIC opened at $12.35 on Wednesday. Oric Pharmaceuticals has a 1-year low of $7.23 and a 1-year high of $14.68. The company has a 50-day moving average of $12.96 and a two-hundred day moving average of $10.91.

Oric Pharmaceuticals (NASDAQ:ORIC – Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). As a group, sell-side analysts forecast that Oric Pharmaceuticals will post -1.53 earnings per share for the current year.

Insider Activity at Oric Pharmaceuticals

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

Institutional Inflows and Outflows

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

Oric Pharmaceuticals Company Profile

(Get Free Report)

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.

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