OncoMed Pharmaceuticals Inc. (OMED) Stock Rating Upgraded by Zacks Investment Research
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
A number of other brokerages also recently issued reports on OMED. Cantor Fitzgerald reiterated a “buy” rating and issued a $16.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Thursday, July 14th. Jefferies Group increased their price objective on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. HC Wainwright initiated coverage on OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Leerink Swann reiterated a “market perform” rating and issued a $13.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.42 on Wednesday. OncoMed Pharmaceuticals has a one year low of $8.42 and a one year high of $23.98. The firm’s market capitalization is $319.59 million. The firm’s 50-day moving average price is $11.10 and its 200 day moving average price is $11.80.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by $0.10. The company had revenue of $6.67 million for the quarter, compared to analysts’ expectations 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 company’s revenue was up 42.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS. On average, equities analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMED. BVF Inc. IL boosted 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 worth $13,541,000 after buying an additional 347,903 shares in the last quarter. TFS Capital LLC boosted its position in shares of OncoMed Pharmaceuticals by 459.7% in the second quarter. TFS Capital LLC now owns 138,394 shares of the biopharmaceutical company’s stock worth $1,704,000 after buying an additional 113,668 shares during the period. Bogle Investment Management L P DE bought a new position in shares of OncoMed Pharmaceuticals during the first quarter worth about $1,131,000. Barclays PLC boosted its position in shares of OncoMed Pharmaceuticals by 916.3% in the first quarter. Barclays PLC now owns 117,537 shares of the biopharmaceutical company’s stock worth $1,175,000 after buying an additional 105,972 shares during the period. Finally, Turner Investments L.P. bought a new position in shares of OncoMed Pharmaceuticals during the second quarter worth about $1,155,000. 30.66% of the stock is currently owned by institutional investors and hedge funds.
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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