OncoMed Pharmaceuticals Inc. (OMED) Earns “Market Perform” Rating from Leerink Swann
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED)‘s stock had its “market perform” rating reaffirmed by stock analysts at Leerink Swann in a research note issued on Monday. They currently have a $13.00 target price on the biopharmaceutical company’s stock. Leerink Swann’s target price indicates a potential upside of 14.64% from the company’s previous close.
A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald restated a “buy” rating and set a $16.00 price target on shares of OncoMed Pharmaceuticals in a report on Thursday, July 14th. Zacks Investment Research downgraded OncoMed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Jefferies Group boosted their price target on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, HC Wainwright started coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. OncoMed Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $19.38.
Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) traded up 4.06% during mid-day trading on Monday, hitting $11.80. The company had a trading volume of 90,496 shares. OncoMed Pharmaceuticals has a 52 week low of $8.42 and a 52 week high of $23.98. The firm’s market capitalization is $361.92 million. The firm has a 50-day moving average price of $11.05 and a 200-day moving average price of $11.77.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The business had revenue of $6.67 million for the quarter, compared to analysts’ expectations of $8.09 million. During the same quarter in the prior year, the firm earned ($0.72) EPS. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. Equities analysts forecast that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BVF Inc. IL boosted its stake in shares of OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock worth $13,541,000 after buying an additional 347,903 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of OncoMed Pharmaceuticals by 1.9% in the second quarter. BlackRock Fund Advisors now owns 839,388 shares of the biopharmaceutical company’s stock worth $10,333,000 after buying an additional 15,990 shares in the last quarter. Iguana Healthcare Management LLC boosted its stake in shares of OncoMed Pharmaceuticals by 11.5% in the second quarter. Iguana Healthcare Management LLC now owns 632,200 shares of the biopharmaceutical company’s stock worth $7,782,000 after buying an additional 65,175 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of OncoMed Pharmaceuticals by 5.2% in the second quarter. Vanguard Group Inc. now owns 632,093 shares of the biopharmaceutical company’s stock worth $7,781,000 after buying an additional 31,165 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of OncoMed Pharmaceuticals by 37.6% in the second quarter. Cannell Peter B & Co. Inc. now owns 289,528 shares of the biopharmaceutical company’s stock worth $3,564,000 after buying an additional 79,125 shares in the last quarter. Hedge funds and other institutional investors own 30.66% of the company’s stock.
About OncoMed Pharmaceuticals
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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