OncoMed Pharmaceuticals Inc. (OMED) Stock Rating Reaffirmed by Leerink Swann
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED)‘s stock had its “market perform” rating reaffirmed by equities researchers at Leerink Swann in a research report issued to clients and investors on Monday. They currently have a $13.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price objective suggests a potential upside of 14.64% from the company’s previous close.
OMED has been the subject of several other reports. Zacks Investment Research cut OncoMed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. HC Wainwright assumed coverage on OncoMed Pharmaceuticals in a report on Thursday, September 22nd. They issued a “buy” rating and a $20.00 price target for the company. Jefferies Group raised their price target on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $16.00 price target on shares of OncoMed Pharmaceuticals in a report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. OncoMed Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded up 6.0917% during mid-day trading on Monday, hitting $12.0308. The stock had a trading volume of 117,152 shares. The firm’s 50-day moving average price is $11.05 and its 200 day moving average price is $11.77. OncoMed Pharmaceuticals has a one year low of $8.42 and a one year high of $23.98. The company’s market cap is $369.00 million.
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OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 424.46%. The company had revenue of $6.67 million for the quarter, compared to analyst estimates of $8.09 million. During the same period in the previous year, the business posted ($0.72) earnings per share. The firm’s revenue was up 42.2% compared to the same quarter last year. On average, equities research analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in OMED. American International Group Inc. increased its position 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 during the last quarter. Zacks Investment Management bought a new position in OncoMed Pharmaceuticals during the second quarter valued at $138,000. Metropolitan Life Insurance Co. NY increased its position in 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 valued at $151,000 after buying an additional 90 shares during the last quarter. Bank of Montreal Can bought a new position in OncoMed Pharmaceuticals during the second quarter valued at $162,000. Finally, Alliancebernstein L.P. bought a new position in OncoMed Pharmaceuticals during the second quarter valued at $208,000. 30.66% of the stock is owned by institutional investors.
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.
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