OncoMed Pharmaceuticals Inc. (OMED) Shares Up 1.7%
Shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) shot up 1.7% during trading on Friday . The stock traded as high as $12.54 and last traded at $12.45, with a volume of 88,187 shares changing hands. The stock had previously closed at $12.24.
Several research firms recently commented on OMED. Cantor Fitzgerald began coverage on shares of OncoMed Pharmaceuticals in a research report on Monday, April 18th. They issued a “buy” rating and a $16.00 price target for the company. Mizuho reduced their price target on shares of OncoMed Pharmaceuticals from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, June 1st. Jefferies Group reiterated a “buy” rating on shares of OncoMed Pharmaceuticals in a research report on Sunday, May 22nd. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Leerink Swann upped their price target on shares of OncoMed Pharmaceuticals from $11.00 to $13.00 and gave the company a “market perform” rating in a research report on Thursday, May 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. OncoMed Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $19.14.
The company has a 50-day moving average price of $12.76 and a 200 day moving average price of $12.22. The stock’s market capitalization is $378.73 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.17. The business had revenue of $6.40 million for the quarter, compared to the consensus estimate of $8.28 million. During the same period last year, the business earned ($0.49) earnings per share. The firm’s quarterly revenue was down 34.0% compared to the same quarter last year. Analysts expect that OncoMed Pharmaceuticals Inc. will post ($3.29) earnings per share for the current year.
A hedge fund recently bought a new stake in OncoMed Pharmaceuticals stock. Jennison Associates LLC acquired a new position in OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 89,546 shares of the biopharmaceutical company’s stock, valued at approximately $2,018,000. Jennison Associates LLC owned about 0.30% of OncoMed Pharmaceuticals as of its most recent SEC filing.
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.
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