OncoMed Pharmaceuticals, Inc. (OMED) Given Average Rating of “Hold” by Brokerages
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.17.
OMED has been the subject of several recent research reports. Cantor Fitzgerald lowered OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $6.00 in a report on Monday, April 17th. Zacks Investment Research raised OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday, March 23rd. HC Wainwright lowered their target price on OncoMed Pharmaceuticals from $9.00 to $6.00 and set a “buy” rating for the company in a report on Monday, May 15th. BMO Capital Markets lowered OncoMed Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $6.00 target price for the company. in a report on Tuesday, April 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 target price (down from $15.00) on shares of OncoMed Pharmaceuticals in a report on Tuesday, April 11th.
In other news, CEO Paul J. Hastings sold 6,473 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total transaction of $58,645.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Alicia J. Hager sold 4,316 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total value of $39,102.96. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 88,121 shares of company stock valued at $304,289 and have sold 37,910 shares valued at $229,076. Insiders own 32.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of OncoMed Pharmaceuticals by 15.6% in the fourth quarter. State Street Corp now owns 341,271 shares of the biopharmaceutical company’s stock valued at $2,628,000 after buying an additional 46,171 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of OncoMed Pharmaceuticals by 3.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 214,000 shares of the biopharmaceutical company’s stock valued at $1,971,000 after buying an additional 7,000 shares in the last quarter. Piermont Capital Management Inc. acquired a new position in shares of OncoMed Pharmaceuticals during the first quarter valued at about $481,000. Granite Investment Partners LLC acquired a new position in shares of OncoMed Pharmaceuticals during the first quarter valued at about $460,000. Finally, Renaissance Technologies LLC increased its position in shares of OncoMed Pharmaceuticals by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 469,300 shares of the biopharmaceutical company’s stock valued at $3,618,000 after buying an additional 217,700 shares in the last quarter. Institutional investors and hedge funds own 44.69% of the company’s stock.
Shares of OncoMed Pharmaceuticals (NASDAQ OMED) opened at 3.84 on Friday. The firm’s 50-day moving average price is $3.59 and its 200-day moving average price is $6.81. OncoMed Pharmaceuticals has a 52-week low of $3.14 and a 52-week high of $13.27. The firm’s market capitalization is $144.47 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.61) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.01. The company had revenue of $6.20 million for the quarter, compared to the consensus estimate of $5.85 million. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company posted ($0.90) earnings per share. On average, equities analysts predict that OncoMed Pharmaceuticals will post ($1.77) earnings per share for the current fiscal year.
About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic 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), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).
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