Oncomed Pharmaceuticals (NASDAQ:OMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $3.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.54% from the company’s previous close.

According to Zacks, “OncoMed Pharmaceuticals, Inc. is a biopharmaceutical company which focuses on the discovering and developing monoclonal antibody therapeutics for cancer stem cells. It utilizes its technologies to identify, isolate and evaluate CSCs, validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop antibody and other protein-based therapeutics. The company serves the healthcare industry and cancer therapy patients. OncoMed Pharmaceuticals, Inc. is based in Redwood City, United States. “

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Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald set a $6.00 price target on Oncomed Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, January 4th. HC Wainwright reaffirmed a “hold” rating and issued a $3.00 price target on shares of Oncomed Pharmaceuticals in a research report on Friday, March 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $5.31.

Oncomed Pharmaceuticals (NASDAQ OMED) opened at $3.11 on Wednesday. Oncomed Pharmaceuticals has a 12 month low of $1.74 and a 12 month high of $10.42. The stock has a market capitalization of $125.87, a PE ratio of -2.99 and a beta of 2.18.

Oncomed Pharmaceuticals (NASDAQ:OMED) last posted its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.59. The company had revenue of $20.64 million during the quarter, compared to analyst estimates of $5.10 million. research analysts anticipate that Oncomed Pharmaceuticals will post -1.21 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Oncomed Pharmaceuticals by 89.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 52,106 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 24,653 shares in the last quarter. AXA raised its position in Oncomed Pharmaceuticals by 29.5% in the 4th quarter. AXA now owns 131,785 shares of the biopharmaceutical company’s stock valued at $540,000 after purchasing an additional 30,006 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Oncomed Pharmaceuticals during the 4th quarter worth about $133,000. Paloma Partners Management Co acquired a new stake in shares of Oncomed Pharmaceuticals during the 4th quarter worth about $135,000. Finally, Two Sigma Investments LP raised its position in shares of Oncomed Pharmaceuticals by 154.0% during the 4th quarter. Two Sigma Investments LP now owns 61,365 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 37,205 shares in the last quarter. 54.05% of the stock is currently owned by institutional investors.

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Oncomed Pharmaceuticals Company Profile

OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic 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), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).

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