OncoMed Pharmaceuticals, Inc. (OMED) Receives Hold Rating from Cantor Fitzgerald
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED)‘s stock had its “hold” rating reissued by Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. They currently have a $6.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 29.59% from the company’s previous close.
Several other equities research analysts have also recently commented on the stock. Jefferies Group LLC set a $5.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 25th. Piper Jaffray Companies set a $5.00 price target on OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, July 10th. Finally, ValuEngine cut OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.00.
Shares of OncoMed Pharmaceuticals (OMED) traded up 1.08% during midday trading on Tuesday, reaching $4.68. 42,163 shares of the company were exchanged. The company’s market capitalization is $176.11 million. The firm’s 50 day moving average is $4.23 and its 200-day moving average is $4.88. OncoMed Pharmaceuticals has a 52-week low of $2.91 and a 52-week high of $12.58.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.10. The business had revenue of $6.20 million during the quarter, compared to the consensus estimate of $6.08 million. During the same quarter last year, the firm posted ($0.91) earnings per share. OncoMed Pharmaceuticals’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts forecast that OncoMed Pharmaceuticals will post ($1.85) earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Piermont Capital Management Inc. purchased a new position in OncoMed Pharmaceuticals in the 1st quarter worth about $481,000. Primecap Management Co. CA increased its stake in OncoMed Pharmaceuticals by 5.9% in the 1st quarter. Primecap Management Co. CA now owns 1,906,600 shares of the biopharmaceutical company’s stock worth $17,560,000 after purchasing an additional 105,900 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in OncoMed Pharmaceuticals in the 1st quarter worth about $6,266,000. Vanguard Group Inc. increased its stake in OncoMed Pharmaceuticals by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 945,485 shares of the biopharmaceutical company’s stock worth $8,708,000 after purchasing an additional 45,494 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in OncoMed Pharmaceuticals in the 1st quarter worth about $372,000. 51.72% of the stock is currently owned by hedge funds and other institutional investors.
OncoMed Pharmaceuticals Company Profile
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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