Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) from a sell rating to a hold rating in a report released on Wednesday morning. They currently have $11.00 target price on the biopharmaceutical company’s stock.
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. “
Other analysts have also issued reports about the stock. Jefferies Group increased their target price on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a buy rating in a report on Wednesday, August 10th. Cantor Fitzgerald reiterated a buy rating and set a $16.00 target price on shares of OncoMed Pharmaceuticals in a report on Thursday, July 14th. HC Wainwright began coverage on shares of OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They set a buy rating and a $20.00 target price for the company. Finally, Leerink Swann reiterated a market perform rating and set a $13.00 target price on shares of OncoMed Pharmaceuticals in a report on Monday, October 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $19.25.
Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.00 on Wednesday. The company’s market capitalization is $306.71 million. The firm’s 50-day moving average price is $11.05 and its 200-day moving average price is $11.81. OncoMed Pharmaceuticals has a one year low of $8.42 and a one year high of $23.98.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data 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. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The company had revenue of $6.67 million for the quarter, compared to the consensus estimate of $8.09 million. During the same period last year, the business posted ($0.72) earnings per share. The firm’s quarterly revenue was up 42.2% compared to the same quarter last year. Analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of OncoMed Pharmaceuticals by 25.7% in the second quarter. Alps Advisors Inc. now owns 42,562 shares of the biopharmaceutical company’s stock valued at $524,000 after buying an additional 8,701 shares during the period. BVF Inc. IL raised its position in OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock valued at $13,541,000 after buying an additional 347,903 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in OncoMed Pharmaceuticals by 59.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 167,000 shares of the biopharmaceutical company’s stock valued at $2,056,000 after buying an additional 62,000 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in OncoMed Pharmaceuticals by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,959 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 90 shares during the last quarter. Finally, State Street Corp raised its position in OncoMed Pharmaceuticals by 6.5% in the first quarter. State Street Corp now owns 236,832 shares of the biopharmaceutical company’s stock valued at $2,396,000 after buying an additional 14,518 shares during the last quarter. Institutional investors and hedge funds own 30.81% of the company’s stock.
OncoMed Pharmaceuticals Company Profile
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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