OncoMed Pharmaceuticals Inc. (OMED) Earns “Market Perform” Rating from Leerink Swann
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED)‘s stock had its “market perform” rating reissued by stock analysts at Leerink Swann in a note issued to investors on Monday. They currently have a $13.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 14.64% from the company’s current price.
Several other brokerages have also issued reports on OMED. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 price target on shares of OncoMed Pharmaceuticals in a report on Thursday, July 14th. Jefferies Group increased their price target on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, HC Wainwright started coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They issued a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded up 4.06% on Monday, reaching $11.80. The company’s stock had a trading volume of 90,496 shares. The company has a 50-day moving average price of $11.05 and a 200 day moving average price of $11.77. OncoMed Pharmaceuticals has a 12 month low of $8.42 and a 12 month high of $23.98. The company’s market cap is $361.92 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) EPS for the quarter, missing the 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 business had revenue of $6.67 million for the quarter, compared to the consensus estimate of $8.09 million. During the same quarter in the previous year, the company earned ($0.72) EPS. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. On average, equities research analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) EPS for the current fiscal 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 in 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 worth $151,000 after buying an additional 90 shares in the last quarter. ProShare Advisors LLC raised its position in OncoMed Pharmaceuticals by 1.4% in the second quarter. ProShare Advisors LLC now owns 24,695 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 338 shares in the last quarter. Rhumbline Advisers raised its position in OncoMed Pharmaceuticals by 2.6% in the second quarter. Rhumbline Advisers now owns 16,895 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 425 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in OncoMed Pharmaceuticals by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,821 shares of the biopharmaceutical company’s stock worth $528,000 after buying an additional 588 shares in the last quarter. Institutional investors own 30.66% 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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