Trade Report: The OncoMed Pharmaceuticals Inc. (OMED) Given a $16.00 Price Target at Cantor Fitzgerald

The OncoMed Pharmaceuticals Inc. (OMED) Given a $16.00 Price Target at Cantor Fitzgerald

OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) received a $16.00 price objective from stock analysts at Cantor Fitzgerald in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 66.84% from the company’s current price.

A number of other brokerages also recently weighed in on OMED. Jefferies Group upped their price target on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, October 12th. HC Wainwright reissued a “buy” rating on shares of OncoMed Pharmaceuticals in a report on Wednesday, November 2nd. Finally, Leerink Swann reissued a “market perform” rating and issued a $13.00 price target on shares of OncoMed Pharmaceuticals in a report on Monday, October 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. OncoMed Pharmaceuticals has an average rating of “Buy” and an average target price of $19.25.

Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) traded down 0.83% on Wednesday, reaching $9.59. 37,286 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $9.72 and its 200-day moving average price is $11.42. OncoMed Pharmaceuticals has a 12 month low of $8.07 and a 12 month high of $23.98. The company’s market capitalization is $355.71 billion.

OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, meeting 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 company earned $5.92 million during the quarter, compared to the consensus estimate of $9.48 million. During the same period in the prior year, the company earned ($0.81) EPS. OncoMed Pharmaceuticals’s revenue was up 26.3% on a year-over-year basis. On average, equities analysts anticipate that OncoMed Pharmaceuticals will post ($3.23) EPS for the current year.

Institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its position 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 in the last quarter. ProShare Advisors LLC increased its position in shares of OncoMed Pharmaceuticals by 1.4% in the second quarter. ProShare Advisors LLC now owns 24,695 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 338 shares in the last quarter. 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 worth $208,000 after buying an additional 425 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of OncoMed Pharmaceuticals by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,821 shares of the biopharmaceutical company’s stock worth $528,000 after buying an additional 588 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of OncoMed Pharmaceuticals by 2.6% in the second quarter. California State Teachers Retirement System now owns 36,733 shares of the biopharmaceutical company’s stock worth $452,000 after buying an additional 926 shares in the last quarter. Institutional investors own 31.95% of the company’s stock.

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