ORIC Pharmaceuticals shares surge 6.63% on Piper Sandler Overweight rating and $22 target

ORIC Pharmaceuticals surged 6.63% in pre-market trading on January 8, 2026, as Piper Sandler initiated coverage with an Overweight rating and a $22 price target, signaling renewed institutional confidence in the biotech’s growth trajectory

The upgrade highlighted ORIC’s therapeutic pipeline advancements, particularly in hormone-dependent cancers and precision oncology, alongside its potential to expand market share through key product candidates like ORIC-944 and ORIC-114

This move follows a series of analyst actions in late 2025, including Wells Fargo raising its target to $25 and Evercore ISI Group setting a $25 price point, underscoring sector-wide optimism about ORIC’s ability to overcome cancer resistance mechanisms

With a current average analyst target of $20.92—implying over 150% upside—investors are positioning for both short-term momentum and long-term value creation amid upcoming clinical milestones and regulatory decisions