ORIC Pharmaceuticals (NASDAQ:ORIC) PT Lowered to $18.00 at JPMorgan Chase & Co.

ORIC Pharmaceuticals (NASDAQ:ORIC) had its price target decreased by JPMorgan Chase & Co. from $19.00 to $18.00 in a research report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Wedbush lifted their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an outperform rating in a report on Friday, March 1st. Cantor Fitzgerald began coverage on ORIC Pharmaceuticals in a report on Friday, February 23rd. They issued an overweight rating for the company. Finally, HC Wainwright lifted their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a buy rating in a report on Thursday, March 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and an average price target of $19.80.

ORIC Pharmaceuticals Stock Up 2.1 %

ORIC stock opened at $13.75 on Wednesday. ORIC Pharmaceuticals has a twelve month low of $4.75 and a twelve month high of $16.65. The firm has a market cap of $926.48 million, a PE ratio of -7.02 and a beta of 1.04. The business has a 50 day moving average of $12.72 and a 200 day moving average of $9.34.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, research analysts expect that ORIC Pharmaceuticals will post -1.76 earnings per share for the current fiscal year.

Insider Transactions at ORIC Pharmaceuticals

In other news, CEO Jacob Chacko sold 13,958 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.12, for a total value of $169,170.96. Following the transaction, the chief executive officer now directly owns 794,586 shares in the company, valued at approximately $9,630,382.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.34% of the company’s stock.

Hedge Funds Weigh In On ORIC Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ORIC. Ameritas Investment Partners Inc. purchased a new position in ORIC Pharmaceuticals during the second quarter valued at $25,000. UBS Group AG lifted its position in ORIC Pharmaceuticals by 3,233.1% during the fourth quarter. UBS Group AG now owns 4,433 shares of the company’s stock valued at $26,000 after purchasing an additional 4,300 shares in the last quarter. Group One Trading L.P. purchased a new position in ORIC Pharmaceuticals during the first quarter valued at $26,000. Acadian Asset Management LLC purchased a new position in shares of ORIC Pharmaceuticals in the first quarter valued at about $29,000. Finally, Royal Bank of Canada lifted its position in shares of ORIC Pharmaceuticals by 67,750.0% in the second quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock valued at $32,000 after acquiring an additional 4,065 shares in the last quarter. 95.05% of the stock is currently owned by hedge funds and other 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.