Citigroup Issues Positive Forecast for Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price

Oric Pharmaceuticals (NASDAQ:ORIC) had its target price raised by Citigroup from $12.00 to $16.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

ORIC has been the subject of a number of other reports. Wells Fargo & Company decreased their price objective on Oric Pharmaceuticals from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Oppenheimer lifted their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.88.

Oric Pharmaceuticals Trading Down 1.6%

Shares of NASDAQ ORIC opened at $12.06 on Monday. The firm has a market capitalization of $1.17 billion, a PE ratio of -6.97 and a beta of 1.66. The firm’s 50-day moving average is $12.23 and its 200-day moving average is $10.23. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.08. As a group, equities research analysts anticipate that Oric Pharmaceuticals will post -2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jacob Chacko sold 37,461 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total transaction of $461,519.52. Following the sale, the chief executive officer directly owned 531,419 shares in the company, valued at $6,547,082.08. This trade represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dominic Piscitelli sold 11,000 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $14.52, for a total transaction of $159,720.00. Following the completion of the transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 261,000 shares of company stock worth $3,024,703. 5.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after acquiring an additional 1,009 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Oric Pharmaceuticals by 2.9% in the second quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock worth $497,000 after purchasing an additional 1,358 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after purchasing an additional 1,372 shares during the last quarter. ProShare Advisors LLC grew its position in Oric Pharmaceuticals by 12.9% in the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Woodline Partners LP lifted its position in Oric Pharmaceuticals by 0.9% during the 3rd quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock worth $2,958,000 after buying an additional 2,166 shares in the last quarter. Institutional investors 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.