OncoMed Pharmaceuticals Inc. (OMED) Stock Rating Lowered by Zacks Investment Research
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
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. “
OMED has been the subject of several other research reports. Leerink Swann reissued a “market perform” rating and issued a $13.00 price objective on shares of OncoMed Pharmaceuticals in a report on Monday, October 10th. HC Wainwright initiated coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They set a “buy” rating and a $20.00 target price for the company. Cantor Fitzgerald set a $16.00 target price on OncoMed Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, November 2nd. Finally, Jefferies Group lifted their target price on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.25.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 9.59 on Friday. OncoMed Pharmaceuticals has a 12-month low of $8.07 and a 12-month high of $23.98. The stock has a 50 day moving average of $9.72 and a 200-day moving average of $11.42. The company’s market cap is $355.71 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, hitting the consensus estimate of ($0.77). OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 409.54%. The company earned $5.92 million during the quarter, compared to analyst estimates of $9.48 million. During the same quarter last year, the firm posted ($0.81) EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities research analysts anticipate that OncoMed Pharmaceuticals will post ($3.23) earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC acquired a new stake in shares of OncoMed Pharmaceuticals during the third quarter worth about $493,000. BVF Inc. IL increased its stake in shares of OncoMed Pharmaceuticals by 35.3% in the third quarter. BVF Inc. IL now owns 1,812,005 shares of the biopharmaceutical company’s stock worth $20,711,000 after buying an additional 472,669 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of OncoMed Pharmaceuticals during the third quarter worth about $156,000. ProShare Advisors LLC increased its stake in shares of OncoMed Pharmaceuticals by 2.8% in the third quarter. ProShare Advisors LLC now owns 25,395 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 700 shares during the period. Finally, Morgan Stanley increased its stake in shares of OncoMed Pharmaceuticals by 251.1% in the third quarter. Morgan Stanley now owns 88,516 shares of the biopharmaceutical company’s stock worth $1,011,000 after buying an additional 63,302 shares during the period. Hedge funds and other institutional investors own 31.95% of the company’s stock.
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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