ORIC surges 6.63% pre-market on Piper Sandler upgrade to overweight with $22 target

ORIC Pharmaceuticals Inc (ORIC) surged 6.63% in pre-market trading on January 8, 2026, following a strategic upgrade from Piper Sandler analysts who initiated coverage with an "Overweight" recommendation and a $22 price target.

The firm’s bullish stance highlighted ORIC’s therapeutic pipeline advancements and potential market expansion opportunities, signaling renewed investor confidence in the biotech’s R&D execution and commercialization prospects.

Analysts noted the rating upgrade could amplify short-term momentum as institutional investors reassess the stock’s risk-reward profile against its peers in the oncology sector. Market participants are now closely monitoring upcoming clinical data releases for further validation of the company’s strategic direction.

Market observers are also paying attention to the broader biotech sector for any signs of a coordinated shift in investor sentiment, particularly as several other firms in the space are nearing key FDA decision dates and are preparing for potential market expansion in 2026.

The current positive momentum is expected to persist as Piper Sandler’s upgrade is likely to attract both long-term investors and short-term traders looking to capitalize on the improved fundamentals and market narrative around ORIC.