Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $20.00 at JPMorgan Chase & Co.

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

Several other equities analysts also recently commented on the company. Wall Street Zen raised Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Oppenheimer boosted their price target on Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. Citigroup lifted their target price on Oric Pharmaceuticals from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.25.

Oric Pharmaceuticals Stock Performance

NASDAQ ORIC opened at $11.90 on Tuesday. The stock has a market cap of $1.16 billion, a PE ratio of -6.88 and a beta of 1.66. The firm has a 50-day moving average of $12.25 and a 200-day moving average of $10.27. Oric Pharmaceuticals has a 52-week low of $3.90 and a 52-week high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results 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, analysts predict that Oric Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Activity at Oric Pharmaceuticals

In other news, CFO Dominic Piscitelli sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $14.52, for a total value of $159,720.00. Following the completion of the transaction, the chief financial officer directly owned 48,317 shares in the company, valued at approximately $701,562.84. The trade was a 18.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jacob Chacko sold 125,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $10.80, for a total transaction of $1,350,000.00. Following the sale, the chief executive officer owned 656,419 shares in the company, valued at $7,089,325.20. This represents a 16.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 261,000 shares of company stock valued at $3,024,703 over the last 90 days. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

A number of large investors have recently modified their holdings of ORIC. Arizona State Retirement System acquired a new position in shares of Oric Pharmaceuticals during the 1st quarter worth $56,000. New York State Common Retirement Fund grew its position in Oric Pharmaceuticals by 137.1% in the first quarter. New York State Common Retirement Fund now owns 38,486 shares of the company’s stock valued at $215,000 after acquiring an additional 22,257 shares during the last quarter. Victory Capital Management Inc. grew its position in Oric Pharmaceuticals by 54.1% in the first quarter. Victory Capital Management Inc. now owns 150,260 shares of the company’s stock valued at $838,000 after acquiring an additional 52,760 shares during the last quarter. Legato Capital Management LLC acquired a new position in Oric Pharmaceuticals during the first quarter worth about $109,000. Finally, TD Asset Management Inc lifted its holdings in shares of Oric Pharmaceuticals by 3.3% in the first quarter. TD Asset Management Inc now owns 152,700 shares of the company’s stock worth $852,000 after acquiring an additional 4,900 shares during the last quarter. Institutional investors and hedge funds 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.