OncoMed Pharmaceuticals Inc. (OMED) Stock Rating Upgraded by Zacks Investment Research
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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 equities research analysts also recently issued reports on OMED. HC Wainwright assumed coverage on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They set a “buy” rating and a $20.00 price objective for the company. Jefferies Group boosted their price objective on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Leerink Swann restated a “market perform” rating and set a $13.00 target price on shares of OncoMed Pharmaceuticals in a research note on Monday. Finally, Cantor Fitzgerald restated a “buy” rating and set a $16.00 target price on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $19.38.
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OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.42 on Wednesday. The company’s market capitalization is $319.59 million. The stock’s 50 day moving average price is $11.10 and its 200-day moving average price is $11.80. OncoMed Pharmaceuticals has a 52 week low of $8.42 and a 52 week high of $23.98.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued 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. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The business had revenue of $6.67 million for the quarter, compared to the consensus estimate of $8.09 million. During the same period in the previous year, the firm earned ($0.72) EPS. The company’s revenue was up 42.2% on a year-over-year basis. On average, equities research analysts predict that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted 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 valued at $124,000 after buying an additional 39 shares during the last quarter. Zacks Investment Management bought a new stake in shares of OncoMed Pharmaceuticals during the second quarter valued at approximately $138,000. Metropolitan Life Insurance Co. NY boosted its stake 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 valued at $151,000 after buying an additional 90 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of OncoMed Pharmaceuticals during the second quarter valued at approximately $162,000. Finally, Alliancebernstein L.P. bought a new stake in shares of OncoMed Pharmaceuticals during the second quarter valued at approximately $208,000. Institutional investors and hedge funds own 30.66% 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.
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