OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) Rating Reiterated by Jefferies Group LLC
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a report issued on Sunday. They currently have a $5.00 price objective on the biopharmaceutical company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 46.20% from the stock’s current price.
Several other research analysts also recently commented on OMED. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price objective on shares of OncoMed Pharmaceuticals in a report on Saturday, March 11th. HC Wainwright set a $20.00 price objective on shares of OncoMed Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, March 11th. BMO Capital Markets reaffirmed a “buy” rating and issued a $18.00 price objective on shares of OncoMed Pharmaceuticals in a report on Tuesday, March 14th. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, March 23rd. Finally, Leerink Swann raised their price objective on shares of OncoMed Pharmaceuticals from $6.00 to $10.00 and gave the stock a “market perform” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. OncoMed Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $8.00.
Shares of OncoMed Pharmaceuticals (OMED) opened at 3.42 on Friday. The stock has a 50 day moving average of $3.57 and a 200-day moving average of $6.60. OncoMed Pharmaceuticals has a 52-week low of $3.14 and a 52-week high of $13.27. The firm’s market capitalization is $128.67 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.61) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.01. The business had revenue of $6.20 million during the quarter, compared to the consensus estimate of $5.85 million. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted ($0.90) earnings per share. Equities analysts expect that OncoMed Pharmaceuticals will post ($1.77) earnings per share for the current fiscal year.
In other news, Director Jack W. Lasersohn purchased 34,614 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was purchased at an average cost of $3.37 per share, with a total value of $116,649.18. Following the acquisition, the director now directly owns 185,709 shares in the company, valued at $625,839.33. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jack W. Lasersohn purchased 23,507 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was purchased at an average cost of $3.49 per share, with a total value of $82,039.43. Following the completion of the acquisition, the director now owns 131,095 shares in the company, valued at $457,521.55. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 88,121 shares of company stock valued at $304,289. Insiders own 32.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its position in shares of OncoMed Pharmaceuticals by 9.0% in the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 905 shares during the last quarter. KCG Holdings Inc. bought a new stake in OncoMed Pharmaceuticals during the first quarter valued at $103,000. Russell Investments Group Ltd. bought a new stake in OncoMed Pharmaceuticals during the first quarter valued at $141,000. Metropolitan Life Insurance Co. NY bought a new stake in OncoMed Pharmaceuticals during the first quarter valued at $160,000. Finally, Teachers Advisors LLC boosted its stake in OncoMed Pharmaceuticals by 10.8% in the fourth quarter. Teachers Advisors LLC now owns 30,423 shares of the biopharmaceutical company’s stock valued at $235,000 after buying an additional 2,961 shares during the period. 44.55% of the stock is owned by hedge funds and other institutional investors.
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).
Receive News & Ratings for OncoMed Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OncoMed Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.