Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $15.00

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective raised by equities research analysts at Oppenheimer from $12.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 19.34% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. HC Wainwright cut their target price on Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Guggenheim began coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.57.

Oric Pharmaceuticals Stock Performance

NASDAQ:ORIC traded up $0.38 during trading hours on Friday, reaching $12.57. The company’s stock had a trading volume of 503,041 shares, compared to its average volume of 1,153,343. The firm has a 50-day simple moving average of $12.17 and a 200-day simple moving average of $10.07. Oric Pharmaceuticals has a 1 year low of $3.90 and a 1 year high of $14.93. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -6.65 and a beta of 1.66.

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

Insider Buying and Selling

In other Oric Pharmaceuticals news, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 48,317 shares of the company’s stock, valued at $701,562.84. This trade represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $12.32, for a total value of $461,519.52. Following the transaction, the chief executive officer owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. The trade was a 6.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 261,000 shares of company stock worth $3,024,703. Company insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ORIC. Nisa Investment Advisors LLC increased its holdings in Oric Pharmaceuticals by 17,300.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock worth $25,000 after purchasing an additional 2,422 shares during the period. Assetmark Inc. bought a new stake in shares of Oric Pharmaceuticals in the third quarter valued at about $37,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Oric Pharmaceuticals by 36.7% in the third 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 during the period. ANTIPODES PARTNERS Ltd increased its position in Oric Pharmaceuticals by 35.9% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after purchasing an additional 1,372 shares during the period. Finally, Arizona State Retirement System bought a new stake in shares of Oric Pharmaceuticals in the 1st quarter valued at about $56,000. Institutional investors own 95.05% of the company’s stock.

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.