The OncoMed Pharmaceuticals Inc. (OMED) Earns Market Perform Rating from Leerink Swann

The OncoMed Pharmaceuticals Inc. (OMED) Earns Market Perform Rating from Leerink Swann

Leerink Swann reiterated their market perform rating on shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) in a report released on Monday. The firm currently has a $13.00 price objective on the biopharmaceutical company’s stock.

OMED has been the topic of a number of other reports. HC Wainwright started coverage on shares of OncoMed Pharmaceuticals in a research note on Thursday, September 22nd. They issued a buy rating and a $20.00 price objective on the stock. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, July 12th. Cantor Fitzgerald reaffirmed a buy rating and set a $16.00 target price on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Finally, Jefferies Group boosted their target price on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a buy rating in a research note on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $19.25.

Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.13 on Monday. The company has a 50 day moving average of $11.09 and a 200-day moving average of $11.79. OncoMed Pharmaceuticals has a 52-week low of $8.42 and a 52-week high of $23.98. The company’s market cap is $310.70 million.

OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. The firm earned $6.67 million during the quarter, compared to the consensus estimate of $8.09 million. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The business’s revenue was up 42.2% compared to the same quarter last year. During the same period last year, the business earned ($0.72) earnings per share. Analysts forecast that OncoMed Pharmaceuticals will post ($3.34) EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its position in shares of OncoMed Pharmaceuticals by 25.7% in the second quarter. Alps Advisors Inc. now owns 42,562 shares of the biopharmaceutical company’s stock worth $524,000 after buying an additional 8,701 shares during the period. BVF Inc. IL raised its position in shares of 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 during the period. Candriam Luxembourg S.C.A. raised its position in shares of OncoMed Pharmaceuticals by 59.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 167,000 shares of the biopharmaceutical company’s stock worth $2,056,000 after buying an additional 62,000 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of 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 during the period. Finally, State Street Corp raised its position in shares of OncoMed Pharmaceuticals by 6.5% in the first quarter. State Street Corp now owns 236,832 shares of the biopharmaceutical company’s stock worth $2,396,000 after buying an additional 14,518 shares during the period. Institutional investors own 30.66% of the company’s stock.

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