OncoMed Pharmaceuticals Inc. (OMED) Shares Down 0.8%
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) dropped 0.8% on Tuesday . The company traded as low as $12.61 and last traded at $13.00, with a volume of 92,330 shares changing hands. The stock had previously closed at $12.90.
OMED has been the subject of a number of recent research reports. Mizuho boosted their target price on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 26th. Jefferies Group restated a “buy” rating on shares of OncoMed Pharmaceuticals in a report on Sunday, May 22nd. Cantor Fitzgerald restated a “buy” rating on shares of OncoMed Pharmaceuticals in a research report on Wednesday, June 8th. Zacks Investment Research downgraded shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Leerink Swann upped their price objective on shares of OncoMed Pharmaceuticals from $11.00 to $13.00 and gave the stock a “market perform” rating in a research report on Thursday, May 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.14.
The company has a 50 day moving average price of $12.85 and a 200 day moving average price of $12.29. The stock’s market capitalization is $373.94 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.73) by $0.17. The company earned $6.40 million during the quarter, compared to analysts’ expectations of $8.28 million. OncoMed Pharmaceuticals’s revenue for the quarter was down 34.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.49) earnings per share. Analysts predict that OncoMed Pharmaceuticals Inc. will post ($3.29) EPS for the current year.
Other hedge funds and institutional investors have recently modified their holdings of the company. Morgan Stanley boosted 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 period. Jennison Associates LLC purchased a new position in shares of OncoMed Pharmaceuticals during the fourth quarter valued at approximately $2,018,000. Finally, Wells Fargo & Company MN boosted 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 during the period.
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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