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

Oric Pharmaceuticals (NASDAQ:ORIC) had its price target lifted by stock analysts at Oppenheimer from $12.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 22.45% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a report on Wednesday, October 8th. Zacks Research upgraded shares of Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright cut their price target on shares of Oric Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 14th. JPMorgan Chase & Co. dropped their price target on Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Oric Pharmaceuticals in a research note on Monday, October 27th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.14.

Oric Pharmaceuticals Trading Up 0.5%

Oric Pharmaceuticals stock opened at $12.25 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.08 and a beta of 1.66. Oric Pharmaceuticals has a 1-year low of $3.90 and a 1-year high of $14.93. The firm’s fifty day moving average price is $12.19 and its two-hundred day moving average price is $10.15.

Oric Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Thursday, November 13th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.08. On average, research analysts forecast that Oric Pharmaceuticals will post -2.17 EPS for the current year.

Insider Activity

In other Oric Pharmaceuticals news, CEO Jacob Chacko sold 37,461 shares of the 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 completion of the sale, the chief executive officer owned 531,419 shares of the company’s stock, valued at $6,547,082.08. This represents a 6.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dominic Piscitelli sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was 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 directly owned 48,317 shares in the company, valued at $701,562.84. The trade was a 18.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 261,000 shares of company stock valued at $3,024,703. Company insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On Oric Pharmaceuticals

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Oric Pharmaceuticals by 17,300.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,436 shares of the company’s stock valued at $25,000 after acquiring an additional 2,422 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Oric Pharmaceuticals during the 3rd quarter valued at about $37,000. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 1,009 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Oric Pharmaceuticals by 35.9% in the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock worth $53,000 after buying an additional 1,372 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in Oric Pharmaceuticals during the 1st quarter valued at approximately $56,000. 95.05% of the stock is currently owned by institutional investors.

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.