Zacks Investment Research lowered shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) from a buy rating to a hold rating in a research report released on Saturday morning.
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 weighed in on the company. Leerink Swann restated a market perform rating and issued a $13.00 target price on shares of OncoMed Pharmaceuticals in a report on Monday, October 10th. 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. HC Wainwright started coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They issued a buy rating and a $20.00 target price on the stock. Finally, Jefferies Group raised 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 issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $19.25.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 9.59 on Friday. The firm has a 50-day moving average price of $9.72 and a 200-day moving average price of $11.42. The firm’s market capitalization is $355.71 million. OncoMed Pharmaceuticals has a one year low of $8.07 and a one year high of $23.98.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) EPS for the quarter, meeting the Zacks’ 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 firm earned $5.92 million during the quarter, compared to analysts’ expectations of $9.48 million. During the same quarter last year, the firm posted ($0.81) earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. Analysts expect that OncoMed Pharmaceuticals will post ($3.23) EPS for the current year.
A number of hedge funds have recently modified their holdings of OMED. American International Group Inc. raised its stake 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 purchased a new stake in OncoMed Pharmaceuticals during the second quarter worth about $138,000. Bank of Montreal Can purchased a new stake in OncoMed Pharmaceuticals during the second quarter worth about $162,000. The Manufacturers Life Insurance Company purchased a new stake in OncoMed Pharmaceuticals during the third quarter worth about $156,000. Finally, Rhumbline Advisers increased its stake 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. Institutional investors and hedge funds own 31.95% 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.