Brokerages Set OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) PT at $20.43
Shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) have received a consensus recommendation of “Buy” from the nine analysts that are covering the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.43.
A number of equities analysts recently issued reports on OMED shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 price target on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Jefferies Group boosted 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. Zacks Investment Research raised OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, HC Wainwright initiated 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.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its position in shares of 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 acquired a new position in OncoMed Pharmaceuticals during the second quarter valued at $138,000. Metropolitan Life Insurance Co. NY increased 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. Bank of Montreal Can acquired a new position in OncoMed Pharmaceuticals during the second quarter valued at $162,000. Finally, Alliancebernstein L.P. acquired a new position in OncoMed Pharmaceuticals during the second quarter valued at $208,000. Institutional investors own 30.66% of the company’s stock.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 11.43 on Monday. The firm’s market capitalization is $350.57 million. OncoMed Pharmaceuticals has a 52-week low of $8.42 and a 52-week high of $23.98. The company’s 50-day moving average is $11.05 and its 200-day moving average is $11.70.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results 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. The firm earned $6.67 million during the quarter, compared to the consensus estimate of $8.09 million. OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 424.46%. The business’s revenue for the quarter was up 42.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.72) EPS. Analysts forecast that OncoMed Pharmaceuticals will post ($3.34) EPS for the current fiscal year.
About OncoMed Pharmaceuticals
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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