OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
A number of other research analysts have also issued reports on the stock. Leerink Swann restated a “market perform” rating on shares of OncoMed Pharmaceuticals in a research report on Friday, November 11th. 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, HC Wainwright restated a “buy” rating on shares of OncoMed Pharmaceuticals in a research report on Wednesday, November 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.25.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 9.59 on Friday. The company has a 50-day moving average of $9.72 and a 200 day moving average of $11.42. OncoMed Pharmaceuticals has a 52-week low of $8.07 and a 52-week high of $23.98. The company’s market cap is $355.71 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.77). OncoMed Pharmaceuticals had a negative net margin of 409.54% and a negative return on equity of 1,307.23%. The firm had revenue of $5.92 million for the quarter, compared to analyst estimates of $9.48 million. During the same quarter in the prior year, the business posted ($0.81) EPS. The business’s revenue was up 26.3% compared to the same quarter last year. Equities research analysts predict that OncoMed Pharmaceuticals will post ($3.23) EPS for the current year.
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 purchased a new stake in OncoMed Pharmaceuticals during the second quarter valued at about $138,000. The Manufacturers Life Insurance Company purchased a new stake in OncoMed Pharmaceuticals during the third quarter valued at about $156,000. Bank of Montreal Can purchased a new stake in OncoMed Pharmaceuticals during the second quarter valued at about $162,000. Finally, Alliancebernstein L.P. purchased a new stake in OncoMed Pharmaceuticals during the second quarter valued at about $208,000. Institutional investors and hedge funds 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.