Oric Pharmaceuticals (NASDAQ:ORIC) Stock Price Expected to Rise, Citigroup Analyst Says

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective increased by investment analysts at Citigroup from $12.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 28.26% from the stock’s previous close.

ORIC has been the topic of several other research reports. Zacks Research raised Oric Pharmaceuticals to a “hold” rating in a research note on Tuesday, August 12th. HC Wainwright upped their target price on Oric Pharmaceuticals from $19.00 to $23.00 and gave the company a “buy” rating in a report on Friday. Guggenheim began coverage on Oric Pharmaceuticals in a research report on Thursday, September 4th. They issued a “buy” rating and a $18.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Oric Pharmaceuticals from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Finally, Oppenheimer increased their price objective on shares of Oric Pharmaceuticals from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.88.

Oric Pharmaceuticals Trading Up 1.8%

Shares of ORIC traded up $0.23 during trading hours on Monday, reaching $12.48. The company had a trading volume of 416,700 shares, compared to its average volume of 1,155,054. The firm has a 50 day simple moving average of $12.19 and a 200-day simple moving average of $10.18. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -7.24 and a beta of 1.66. Oric Pharmaceuticals has a 12-month low of $3.90 and a 12-month high of $14.93.

Oric Pharmaceuticals (NASDAQ:ORIC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.08. Sell-side analysts forecast that Oric Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Activity

In related news, CFO Dominic Piscitelli sold 11,000 shares of the company’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 transaction of $159,720.00. Following the completion of the transaction, the chief financial officer owned 48,317 shares of the company’s stock, valued at approximately $701,562.84. This represents a 18.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Chacko sold 37,461 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $12.32, for a total value of $461,519.52. Following the sale, 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 ownership of the stock. 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 in the last 90 days. 5.55% of the stock is owned by company insiders.

Institutional Trading of Oric Pharmaceuticals

Several large investors have recently modified their holdings of ORIC. Orbimed Advisors LLC increased its holdings in Oric Pharmaceuticals by 305.0% during the 3rd quarter. Orbimed Advisors LLC now owns 3,641,756 shares of the company’s stock worth $43,701,000 after purchasing an additional 2,742,475 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Oric Pharmaceuticals by 48.8% in the third quarter. Vanguard Group Inc. now owns 4,650,138 shares of the company’s stock worth $55,802,000 after buying an additional 1,525,445 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in Oric Pharmaceuticals in the first quarter valued at $7,809,000. JPMorgan Chase & Co. boosted its stake in Oric Pharmaceuticals by 3,646.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,335,448 shares of the company’s stock valued at $13,555,000 after acquiring an additional 1,299,799 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in Oric Pharmaceuticals by 521.2% during the 3rd quarter. Royce & Associates LP now owns 1,458,483 shares of the company’s stock worth $17,502,000 after acquiring an additional 1,223,709 shares in the last quarter. 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.