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

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

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

ORIC Pharmaceuticals Stock Performance

Shares of ORIC opened at $13.47 on Wednesday. The stock has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $9.28. The company has a market cap of $907.22 million, a price-to-earnings ratio of -6.87 and a beta of 1.04. ORIC Pharmaceuticals has a 52-week low of $4.69 and a 52-week high of $16.65.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). As a group, research analysts predict that ORIC Pharmaceuticals will post -1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jacob Chacko sold 13,958 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.12, for a total value of $169,170.96. Following the completion of the transaction, the chief executive officer now owns 794,586 shares in the company, valued at $9,630,382.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On ORIC Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ORIC. Ameritas Investment Partners Inc. acquired a new stake in ORIC Pharmaceuticals in the 2nd quarter valued at approximately $25,000. Royal Bank of Canada increased 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 during the last quarter. AJOVista LLC bought a new stake in ORIC Pharmaceuticals during the fourth quarter worth about $40,000. UBS Group AG boosted 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 during the last quarter. Finally, Group One Trading L.P. bought a new position in ORIC Pharmaceuticals in the first quarter valued at approximately $26,000. 95.05% of the stock is 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.