Oncomed Pharmaceuticals Downgraded to Underperform at Zacks (OMED)

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Oncomed Pharmaceuticals (NASDAQ:OMED) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $31.60 target price on the stock. Zacks‘s target price indicates a potential upside of 3.03% from the stock’s previous close.

Shares of Oncomed Pharmaceuticals (NASDAQ:OMED) traded down 3.51% during mid-day trading on Tuesday, hitting $29.592. The stock had a trading volume of 66,477 shares. Oncomed Pharmaceuticals has a 1-year low of $12.07 and a 1-year high of $42.34. The stock’s 50-day moving average is $34.41 and its 200-day moving average is $24.62. The company’s market cap is $872.4 million.

Oncomed Pharmaceuticals (NASDAQ:OMED) last released its earnings data on Tuesday, March 18th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.30. The company had revenue of $19.00 million for the quarter, compared to the consensus estimate of $20.37 million. Analysts expect that Oncomed Pharmaceuticals will post $-0.01 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on OMED. Analysts at Mizuho initiated coverage on shares of Oncomed Pharmaceuticals in a research note on Monday, February 10th. They set a “buy” rating and a $45.00 price target on the stock. Analysts at Piper Jaffray raised their price target on shares of Oncomed Pharmaceuticals to $48.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.52.

OncoMed Pharmaceuticals, Inc (NASDAQ:OMED) is a clinical development-stage biopharmaceutical company.

To view Zacks’ full report, visit Zacks’ official website.

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