ORIC Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $21.00 at JPMorgan Chase & Co.

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price target boosted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company started coverage on shares of ORIC Pharmaceuticals in a report on Thursday, October 31st. They set an “overweight” rating and a $20.00 price target for the company. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of ORIC Pharmaceuticals in a research note on Monday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a report on Tuesday, January 14th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.71.

ORIC Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ ORIC opened at $12.54 on Thursday. ORIC Pharmaceuticals has a 1-year low of $6.33 and a 1-year high of $16.65. The business has a 50-day moving average of $9.31 and a 200-day moving average of $9.61.

ORIC Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.01). Analysts anticipate that ORIC Pharmaceuticals will post -1.84 EPS for the current fiscal year.

Insider Activity at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total value of $204,184.80. Following the completion of the transaction, the chief executive officer now directly owns 778,648 shares of the company’s stock, valued at approximately $6,447,205.44. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction of $73,278.00. Following the sale, the insider now directly owns 46,765 shares of the company’s stock, valued at approximately $387,214.20. This represents a 15.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,361 shares of company stock valued at $350,749 over the last three months. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its position in shares of ORIC Pharmaceuticals by 16.6% during the 4th quarter. M&T Bank Corp now owns 99,234 shares of the company’s stock worth $801,000 after purchasing an additional 14,097 shares during the period. Charles Schwab Investment Management Inc. grew its stake in ORIC Pharmaceuticals by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 417,955 shares of the company’s stock worth $3,373,000 after buying an additional 7,726 shares during the last quarter. Rhumbline Advisers increased its position in ORIC Pharmaceuticals by 4.6% in the fourth quarter. Rhumbline Advisers now owns 93,319 shares of the company’s stock worth $753,000 after buying an additional 4,072 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in ORIC Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,963 shares of the company’s stock valued at $121,000 after buying an additional 1,395 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ORIC Pharmaceuticals by 18.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 162,909 shares of the company’s stock valued at $1,315,000 after acquiring an additional 24,947 shares during the period. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.