ORIC Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $22.00 at JPMorgan Chase & Co.

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $21.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 157.61% from the company’s current price.

ORIC has been the subject of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of ORIC Pharmaceuticals in a report on Monday, January 13th. Guggenheim reissued a “buy” rating on shares of ORIC Pharmaceuticals in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, January 14th. 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 objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of ORIC Pharmaceuticals in a research note on Friday, February 21st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.86.

ORIC Pharmaceuticals Price Performance

ORIC Pharmaceuticals stock traded up $0.46 during mid-day trading on Wednesday, hitting $8.54. 905,651 shares of the company were exchanged, compared to its average volume of 1,214,472. ORIC Pharmaceuticals has a 12-month low of $6.33 and a 12-month high of $16.65. The business’s 50 day simple moving average is $9.25 and its two-hundred day simple moving average is $9.49. The company has a market capitalization of $606.57 million, a P/E ratio of -4.78 and a beta of 1.20.

ORIC Pharmaceuticals (NASDAQ:ORIC) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Equities research analysts predict that ORIC Pharmaceuticals will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In other ORIC Pharmaceuticals news, CEO Jacob Chacko sold 24,660 shares of ORIC Pharmaceuticals stock in a transaction on Monday, December 16th. The shares were sold at an average price of $8.28, for a total transaction 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 $6,447,205.44. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pratik S. Multani sold 8,850 shares of the company’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 completion of the transaction, the insider now owns 46,765 shares in the company, valued at $387,214.20. This trade represents a 15.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,361 shares of company stock valued at $350,749. 5.55% of the stock is currently owned by insiders.

Institutional Trading of ORIC Pharmaceuticals

A number of institutional investors have recently modified their holdings of ORIC. KLP Kapitalforvaltning AS acquired a new position in shares of ORIC Pharmaceuticals during the fourth quarter worth $50,000. BNP Paribas Financial Markets acquired a new position in shares of ORIC Pharmaceuticals during the fourth quarter valued at about $71,000. PNC Financial Services Group Inc. boosted its holdings in ORIC Pharmaceuticals by 22.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,517 shares of the company’s stock worth $109,000 after acquiring an additional 2,520 shares during the last quarter. Creative Planning purchased a new stake in shares of ORIC Pharmaceuticals during the third quarter valued at approximately $116,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of ORIC Pharmaceuticals by 1,048.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,661 shares of the company’s stock worth $118,000 after purchasing an additional 13,384 shares during the last quarter. 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.