OncoMed Pharmaceuticals Inc. (OMED) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning. The brokerage currently has $11.00 target price on the biopharmaceutical company’s stock.
According to Zacks, “OncoMed Pharmaceuticals, Inc. is a biopharmaceutical company which focuses on the discovering and developing monoclonal antibody therapeutics for cancer stem cells. It utilizes its technologies to identify, isolate and evaluate CSCs, validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop antibody and other protein-based therapeutics. The company serves the healthcare industry and cancer therapy patients. OncoMed Pharmaceuticals, Inc. is based in Redwood City, United States. “
Several other equities research analysts have also weighed in on the company. Cantor Fitzgerald reissued a buy rating and issued a $16.00 price objective on shares of OncoMed Pharmaceuticals in a report on Thursday, July 14th. Leerink Swann reissued a market perform rating and issued a $13.00 price objective on shares of OncoMed Pharmaceuticals in a report on Monday, October 10th. Jefferies Group lifted their price objective on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Finally, HC Wainwright initiated coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They issued a buy rating and a $20.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $19.25.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded down 0.30% on Wednesday, hitting $9.92. 19,120 shares of the stock were exchanged. The company has a 50-day moving average price of $11.06 and a 200-day moving average price of $11.78. The firm’s market cap is $304.26 million. OncoMed Pharmaceuticals has a 52-week low of $8.42 and a 52-week high of $23.98.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 424.46%. The firm earned $6.67 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same period last year, the business posted ($0.72) EPS. The company’s revenue was up 42.2% compared to the same quarter last year. On average, equities research analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BVF Inc. IL increased 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 during the period. TFS Capital LLC increased its stake in shares of OncoMed Pharmaceuticals by 459.7% in the second quarter. TFS Capital LLC now owns 138,394 shares of the biopharmaceutical company’s stock worth $1,704,000 after buying an additional 113,668 shares during the period. Bogle Investment Management L P DE acquired a new stake in shares of OncoMed Pharmaceuticals during the first quarter worth about $1,131,000. Barclays PLC increased its stake in shares of OncoMed Pharmaceuticals by 916.3% in the first quarter. Barclays PLC now owns 117,537 shares of the biopharmaceutical company’s stock worth $1,175,000 after buying an additional 105,972 shares during the period. Finally, Turner Investments L.P. acquired a new stake in shares of OncoMed Pharmaceuticals during the second quarter worth about $1,155,000. 30.81% of the stock is owned by institutional investors and hedge funds.
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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