OncoMed Pharmaceuticals Inc. (OMED) Shares Down 14.5%
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) shares fell 14.5% during trading on Thursday . The stock traded as low as $9.85 and last traded at $10.01, with a volume of 1,722,729 shares traded. The stock had previously closed at $11.71.
OMED has been the topic of several research reports. Mizuho cut their price objective on OncoMed Pharmaceuticals from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 1st. Jefferies Group restated a “buy” rating on shares of OncoMed Pharmaceuticals in a research note on Sunday, May 22nd. Cantor Fitzgerald restated a “buy” rating and set a $16.00 price objective on shares of OncoMed Pharmaceuticals in a research note on Friday, May 6th. Leerink Swann upped their price objective on OncoMed Pharmaceuticals from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, May 5th. Finally, Zacks Investment Research cut OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $19.29.
The company’s market capitalization is $308.86 million. The company’s 50-day moving average is $12.29 and its 200-day moving average is $11.46.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by $0.10. The business had revenue of $6.67 million for the quarter, compared to analysts’ expectations of $8.09 million. OncoMed Pharmaceuticals’s revenue was up 42.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.72) earnings per share. On average, equities research analysts predict that OncoMed Pharmaceuticals Inc. will post ($3.42) EPS for the current fiscal year.
A hedge fund recently bought a new stake in OncoMed Pharmaceuticals stock. Jennison Associates LLC bought a new stake in shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 at the end of the most recent quarter.
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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