Oric Pharmaceuticals (NASDAQ:ORIC) Price Target Raised to $16.00

Oric Pharmaceuticals (NASDAQ:ORIC) had its price objective raised by Citigroup from $12.00 to $16.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on ORIC. Guggenheim initiated coverage on shares of Oric Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $18.00 price target for the company. Zacks Research upgraded Oric Pharmaceuticals to a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen raised Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Oric Pharmaceuticals in a research report on Wednesday, October 8th. Finally, HC Wainwright raised their target price on shares of Oric Pharmaceuticals from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Oric Pharmaceuticals Stock Performance

ORIC stock opened at $11.48 on Monday. The firm has a fifty day moving average price of $12.27 and a 200 day moving average price of $10.28. Oric Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $14.93. The firm has a market cap of $1.12 billion, a PE ratio of -6.64 and a beta of 1.66.

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

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 11,000 shares of Oric Pharmaceuticals stock in a transaction dated 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 sale, the chief financial officer owned 48,317 shares in the company, valued at $701,562.84. This trade represents a 18.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jacob Chacko sold 37,461 shares of the business’s stock in a transaction dated 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 directly owned 531,419 shares of the company’s stock, valued at approximately $6,547,082.08. This trade represents a 6.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 261,000 shares of company stock valued at $3,024,703. Corporate insiders own 6.82% of the company’s stock.

Institutional Trading of Oric Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Oric Pharmaceuticals by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,755 shares of the company’s stock worth $45,000 after purchasing an additional 1,009 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Oric Pharmaceuticals by 2.9% during the 2nd quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,000 shares of the company’s stock worth $497,000 after buying an additional 1,358 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its stake in shares of Oric Pharmaceuticals by 35.9% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,194 shares of the company’s stock valued at $53,000 after buying an additional 1,372 shares during the period. ProShare Advisors LLC increased its stake in shares of Oric Pharmaceuticals by 12.9% during the third quarter. ProShare Advisors LLC now owns 13,383 shares of the company’s stock valued at $161,000 after buying an additional 1,527 shares during the period. Finally, Woodline Partners LP raised its holdings in shares of Oric Pharmaceuticals by 0.9% in the third quarter. Woodline Partners LP now owns 246,534 shares of the company’s stock valued at $2,958,000 after acquiring an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

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.