OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $11.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target suggests a potential upside of 13.75% from the company’s current price.

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 research analysts have also issued reports on OMED. HC Wainwright assumed coverage on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They set a “buy” rating and a $20.00 target price on 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 research report on Wednesday, August 10th. Cantor Fitzgerald set a $16.00 target price on shares of OncoMed Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Finally, Leerink Swann restated a “market perform” rating on shares of OncoMed Pharmaceuticals in a research report on Friday, November 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. OncoMed Pharmaceuticals currently has an average rating of “Buy” and an average price target of $19.25.

Analyst Recommendations for OncoMed Pharmaceuticals (NASDAQ:OMED)

OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 9.67 on Friday. The company’s market cap is $358.68 million. OncoMed Pharmaceuticals has a 52-week low of $8.07 and a 52-week high of $23.98. The company has a 50-day moving average of $9.83 and a 200 day moving average of $11.44.

OncoMed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.77). The firm had revenue of $5.92 million for the quarter, compared to analysts’ expectations of $9.48 million. OncoMed Pharmaceuticals had a negative net margin of 409.54% and a negative return on equity of 1,307.23%. The business’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.81) EPS. Equities research analysts predict that OncoMed Pharmaceuticals will post ($3.23) EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake 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 valued at $124,000 after buying an additional 39 shares in the last quarter. Zacks Investment Management bought a new position in shares of OncoMed Pharmaceuticals during the second quarter valued at approximately $138,000. Bank of Montreal Can bought a new position in shares of OncoMed Pharmaceuticals during the second quarter valued at approximately $162,000. The Manufacturers Life Insurance Company bought a new position in shares of OncoMed Pharmaceuticals during the third quarter valued at approximately $156,000. Finally, Rhumbline Advisers increased its position in shares of OncoMed Pharmaceuticals by 2.6% in the second quarter. Rhumbline Advisers now owns 16,895 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 425 shares during the last quarter. Institutional investors and hedge funds own 31.95% of the company’s stock.

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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.

5 Day Chart for NASDAQ:OMED

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