OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) shares shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $10.85 and last traded at $10.84, with a volume of 370,855 shares trading hands. The stock had previously closed at $10.49.

OMED has been the subject of a number of recent analyst reports. Mizuho lowered their price target on OncoMed Pharmaceuticals from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, June 1st. Jefferies Group reaffirmed a “buy” rating on shares of OncoMed Pharmaceuticals in a research note on Sunday, May 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price target on shares of OncoMed Pharmaceuticals in a research note on Friday, May 6th. Leerink Swann upped their price target on OncoMed Pharmaceuticals from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Thursday, May 5th. Finally, Zacks Investment Research cut OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $19.29.

The stock has a 50 day moving average price of $11.74 and a 200-day moving average price of $11.55. The firm’s market capitalization is $332.47 million.

OncoMed Pharmaceuticals (NASDAQ:OMED) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.81) by $0.10. The business earned $6.67 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same quarter in the previous year, the company posted ($0.72) EPS. The firm’s revenue was up 42.2% on a year-over-year basis. Equities analysts anticipate that OncoMed Pharmaceuticals Inc. will post ($3.39) earnings per share for the current year.

A hedge fund recently bought a new stake in OncoMed Pharmaceuticals stock. Jennison Associates LLC bought a new position in shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 89,546 shares of the biopharmaceutical company’s stock, valued at approximately $2,018,000. Jennison Associates LLC owned about 0.30% of OncoMed Pharmaceuticals at the end of the most recent 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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