Leerink Swann reaffirmed their market perform rating on shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) in a research note published on Monday morning. They currently have a $13.00 price objective on the biopharmaceutical company’s stock.
OMED has been the subject of several other research reports. Zacks Investment Research cut OncoMed Pharmaceuticals from a hold rating to a sell rating in a report on Saturday, August 13th. HC Wainwright started coverage on OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They issued a buy rating and a $20.00 target price for the company. Jefferies Group increased their target price on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a buy rating in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $16.00 target price on shares of OncoMed Pharmaceuticals in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded down 7.58% on Monday, reaching $11.09. The company’s stock had a trading volume of 45,351 shares. OncoMed Pharmaceuticals has a 12-month low of $8.42 and a 12-month high of $23.98. The stock’s market cap is $340.14 million. The company’s 50 day moving average price is $11.11 and its 200-day moving average price is $11.81.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 424.46%. The business earned $6.67 million during the quarter, compared to analysts’ expectations of $8.09 million. During the same quarter last year, the business posted ($0.72) EPS. The company’s quarterly revenue was up 42.2% compared to the same quarter last year. On average, equities analysts expect that OncoMed Pharmaceuticals will post ($3.34) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. raised its position in OncoMed Pharmaceuticals by 0.4% in the second quarter. American International Group Inc. now owns 10,084 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 39 shares during the period. Zacks Investment Management bought a new position in OncoMed Pharmaceuticals during the second quarter worth $138,000. 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 worth $151,000 after buying an additional 90 shares during the period. Bank of Montreal Can bought a new position in OncoMed Pharmaceuticals during the second quarter worth $162,000. Finally, Alliancebernstein L.P. bought a new position in OncoMed Pharmaceuticals during the second quarter worth $208,000. 30.66% of the stock is owned by institutional investors.
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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