Oric Pharmaceuticals (NASDAQ:ORIC) Given New $17.00 Price Target at JPMorgan Chase & Co.

Oric Pharmaceuticals (NASDAQ:ORIC) had its target price trimmed by JPMorgan Chase & Co. from $20.00 to $17.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

ORIC has been the topic of several other research reports. LADENBURG THALM/SH SH assumed coverage on shares of Oric Pharmaceuticals in a report on Tuesday, July 8th. They issued a “buy” rating and a $15.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $20.00 price objective on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. HC Wainwright decreased their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer reduced their price objective on Oric Pharmaceuticals from $15.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Oric Pharmaceuticals in a research note on Tuesday, May 6th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Oric Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $17.63.

Oric Pharmaceuticals Stock Up 1.0%

ORIC opened at $9.93 on Thursday. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.67. The company has a market cap of $964.40 million, a P/E ratio of -5.25 and a beta of 1.69. The firm’s 50-day moving average price is $10.29 and its 200-day moving average price is $8.11.

Oric Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). On average, research analysts anticipate that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oric Pharmaceuticals news, Director Angie You acquired 26,597 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $9.39 per share, with a total value of $249,745.83. Following the transaction, the director owned 26,597 shares of the company’s stock, valued at $249,745.83. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dominic Piscitelli sold 32,466 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $10.50, for a total value of $340,893.00. Following the sale, the chief financial officer directly owned 68,317 shares of the company’s stock, valued at $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $416,289 over the last ninety days. Corporate insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ORIC. Geode Capital Management LLC increased its position in shares of Oric Pharmaceuticals by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,278,713 shares of the company’s stock worth $10,321,000 after purchasing an additional 5,200 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Oric Pharmaceuticals by 30.2% during the 4th quarter. Wells Fargo & Company MN now owns 35,857 shares of the company’s stock worth $289,000 after purchasing an additional 8,311 shares during the last quarter. Invesco Ltd. increased its position in shares of Oric Pharmaceuticals by 8.5% during the 4th quarter. Invesco Ltd. now owns 23,958 shares of the company’s stock worth $193,000 after purchasing an additional 1,876 shares during the last quarter. Barclays PLC increased its position in shares of Oric Pharmaceuticals by 6.9% during the 4th quarter. Barclays PLC now owns 114,692 shares of the company’s stock worth $927,000 after purchasing an additional 7,431 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Oric Pharmaceuticals by 120.9% during the 4th quarter. XTX Topco Ltd now owns 25,966 shares of the company’s stock worth $210,000 after purchasing an additional 14,209 shares during the last quarter. 95.05% of the stock is owned by institutional investors and hedge funds.

Oric Pharmaceuticals Company Profile

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.