Oncomed Pharmaceuticals (NASDAQ:OMED)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research report issued to clients and investors on Thursday, The Fly reports. They currently have a $1.50 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $8.00. Wells Fargo & Co’s target price suggests a potential upside of 53.05% from the stock’s current price.

OMED has been the topic of several other reports. Zacks Investment Research upgraded shares of Oncomed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Wednesday, November 7th. HC Wainwright lowered their price target on shares of Oncomed Pharmaceuticals from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, September 21st. Finally, ValuEngine lowered shares of Oncomed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $2.88.

Shares of OMED opened at $0.98 on Thursday. Oncomed Pharmaceuticals has a twelve month low of $0.87 and a twelve month high of $5.19. The stock has a market cap of $39.40 million, a price-to-earnings ratio of 6.38 and a beta of 1.95.

Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.36. Oncomed Pharmaceuticals had a net margin of 10.98% and a return on equity of 25.81%. The company had revenue of $19.52 million for the quarter, compared to analyst estimates of $7.97 million. Equities analysts anticipate that Oncomed Pharmaceuticals will post -0.31 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in shares of Oncomed Pharmaceuticals in the second quarter valued at approximately $186,000. Dimensional Fund Advisors LP acquired a new stake in shares of Oncomed Pharmaceuticals in the third quarter valued at approximately $200,000. Essex Investment Management Co. LLC acquired a new stake in shares of Oncomed Pharmaceuticals in the third quarter valued at approximately $205,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Oncomed Pharmaceuticals by 60.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,691 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 38,091 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Oncomed Pharmaceuticals in the second quarter valued at approximately $254,000. Institutional investors and hedge funds own 48.64% of the company’s stock.

About Oncomed Pharmaceuticals

OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.

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