OncoMed Pharmaceuticals Inc. (OMED) Sees Unusually-High Trading Volume
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) shares saw strong trading volume on Thursday . 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 research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $16.00 price target on shares of OncoMed Pharmaceuticals in a research report on Thursday. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Mizuho decreased their target price on shares of 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 reaffirmed a “buy” rating on shares of OncoMed Pharmaceuticals in a research report on Sunday, May 22nd. Finally, Leerink Swann upped their target price on shares of OncoMed Pharmaceuticals from $11.00 to $13.00 and gave the company 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.14.
The firm’s market cap is $378.73 million. The stock has a 50 day moving average price of $12.76 and a 200 day moving average price of $12.22.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by $0.17. The firm earned $6.40 million during the quarter, compared to analyst estimates of $8.28 million. During the same period in the prior year, the company posted ($0.49) EPS. The firm’s quarterly revenue was down 34.0% on a year-over-year basis. Equities research analysts anticipate that OncoMed Pharmaceuticals Inc. will post ($3.29) EPS for the current fiscal year.
An institutional investor recently raised its position in OncoMed Pharmaceuticals stock. Wells Fargo & Company MN increased its position in OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 398,494 shares of the biopharmaceutical company’s stock after buying an additional 70,942 shares during the period. Wells Fargo & Company MN owned 1.32% of OncoMed Pharmaceuticals worth $8,983,000 as of its most recent filing with the SEC.
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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