OncoMed Pharmaceuticals Inc. (OMED) Shares Down 0.8%
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) shares traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $12.61 and last traded at $13.00, with a volume of 92,330 shares traded. The stock had previously closed at $12.90.
Several research analysts have issued reports on the company. Mizuho dropped their target price on OncoMed Pharmaceuticals from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 1st. Cantor Fitzgerald reissued a “buy” rating on shares of OncoMed Pharmaceuticals in a research report on Wednesday, June 8th. Jefferies Group reissued a “buy” rating and issued a $15.00 target price (down from $16.00) on shares of OncoMed Pharmaceuticals in a research report on Friday, May 6th. Zacks Investment Research cut OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, BMO Capital Markets assumed coverage on OncoMed Pharmaceuticals in a research report on Monday, April 11th. They issued an “outperform” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. OncoMed Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $19.14.
The firm’s market cap is $392.06 million. The stock’s 50 day moving average is $12.88 and its 200 day moving average is $12.29.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results 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 company earned $6.40 million during the quarter, compared to the consensus estimate of $8.28 million. OncoMed Pharmaceuticals’s quarterly revenue was down 34.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.49) earnings per share. On average, analysts forecast that OncoMed Pharmaceuticals Inc. will post ($3.29) earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have made changes to their positions in OMED. Morgan Stanley raised its position in shares of OncoMed Pharmaceuticals by 36.5% in the fourth quarter. Morgan Stanley now owns 150,262 shares of the biopharmaceutical company’s stock valued at $3,387,000 after buying an additional 40,178 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new position in shares of OncoMed Pharmaceuticals during the fourth quarter valued at about $1,578,000. Wells Fargo & Company MN raised its position in shares of OncoMed Pharmaceuticals by 21.7% in the fourth quarter. Wells Fargo & Company MN now owns 398,494 shares of the biopharmaceutical company’s stock valued at $8,983,000 after buying an additional 70,942 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of OncoMed Pharmaceuticals during the fourth quarter valued at about $2,018,000.
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.