OncoMed Pharmaceuticals Inc. (OMED) Sees Unusually-High Trading Volume
Shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) saw unusually-strong trading volume on Thursday . Approximately 226,210 shares changed hands during trading, an increase of 23% from the previous session’s volume of 183,537 shares.The stock last traded at $12.46 and had previously closed at $12.62.
Several equities analysts have recently commented on OMED shares. Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Friday, May 6th. Mizuho reduced their price objective 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. Jefferies Group reiterated a “buy” rating and set a $15.00 price objective (down from $16.00) on shares of OncoMed Pharmaceuticals in a research report on Friday, May 6th. Zacks Investment Research lowered OncoMed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, May 16th. Finally, BMO Capital Markets assumed coverage on OncoMed Pharmaceuticals in a research report on Monday, April 11th. They set an “outperform” rating and a $20.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. OncoMed Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $19.14.
The firm has a 50 day moving average of $12.80 and a 200-day moving average of $12.29. The firm’s market capitalization is $370.85 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.90) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.17. During the same quarter last year, the firm earned ($0.49) EPS. The firm earned $6.40 million during the quarter, compared to analyst estimates of $8.28 million. The firm’s quarterly revenue was down 34.0% on a year-over-year basis. On average, equities analysts forecast that OncoMed Pharmaceuticals Inc. will post ($3.29) earnings per share for the current year.
Several institutional investors have made changes to their positions in the stock. Morgan Stanley increased 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 during the last quarter. Jennison Associates LLC acquired a new position in shares of OncoMed Pharmaceuticals during the fourth quarter valued at approximately $2,018,000. Finally, Wells Fargo & Company MN increased its stake in OncoMed Pharmaceuticals by 21.7% in the fourth quarter. Wells Fargo & Company MN now owns 398,494 shares of the biopharmaceutical company’s stock worth $8,983,000 after buying an additional 70,942 shares in the last 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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