OncoMed Pharmaceuticals, Inc. (OMED) Receives Consensus Recommendation of “Hold” from Analysts
Shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) have earned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. 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 company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.00.
Several research analysts have recently weighed in on the stock. Piper Jaffray Companies set a $5.00 price objective on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a report on Monday, July 10th. Jefferies Group LLC reiterated a “buy” rating and set a $5.00 price objective on shares of OncoMed Pharmaceuticals in a report on Thursday, September 28th. Cantor Fitzgerald reiterated a “hold” rating and set a $6.00 price objective on shares of OncoMed Pharmaceuticals in a report on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $4.00 price objective on shares of OncoMed Pharmaceuticals in a report on Friday, October 6th. Finally, Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Wednesday, October 4th.
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Shares of OncoMed Pharmaceuticals (OMED) opened at 3.70 on Thursday. OncoMed Pharmaceuticals has a 12 month low of $2.91 and a 12 month high of $10.89. The firm’s market capitalization is $139.23 million. The firm’s 50 day moving average is $4.33 and its 200-day moving average is $3.93.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million during the quarter, compared to analysts’ expectations of $6.08 million. OncoMed Pharmaceuticals’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.91) earnings per share. On average, analysts expect that OncoMed Pharmaceuticals will post ($1.85) EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in OMED. Russell Investments Group Ltd. purchased a new position in shares of OncoMed Pharmaceuticals during the 1st quarter worth about $141,000. Wells Fargo & Company MN lifted its holdings in shares of OncoMed Pharmaceuticals by 148.6% during the 1st quarter. Wells Fargo & Company MN now owns 48,477 shares of the biopharmaceutical company’s stock worth $446,000 after acquiring an additional 28,977 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of OncoMed Pharmaceuticals by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 109,273 shares of the biopharmaceutical company’s stock worth $1,007,000 after acquiring an additional 5,305 shares during the period. Swiss National Bank lifted its holdings in shares of OncoMed Pharmaceuticals by 22.1% during the 1st quarter. Swiss National Bank now owns 33,200 shares of the biopharmaceutical company’s stock worth $306,000 after acquiring an additional 6,000 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of OncoMed Pharmaceuticals by 9.0% during the 1st quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 905 shares during the period. Institutional investors and hedge funds own 51.70% of the company’s stock.
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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