Oncomed Pharmaceuticals (NASDAQ:OMED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $4.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.38% from the stock’s current price.

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. “

Several other equities research analysts have also weighed in on the company. SunTrust Banks reissued a “hold” rating and issued a $4.00 price objective on shares of Oncomed Pharmaceuticals in a report on Friday, October 6th. Jefferies Group reissued a “buy” rating and issued a $5.00 price objective on shares of Oncomed Pharmaceuticals in a report on Thursday, September 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $6.00 price objective on shares of Oncomed Pharmaceuticals in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Oncomed Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $5.81.

Shares of Oncomed Pharmaceuticals (OMED) opened at $3.90 on Thursday. Oncomed Pharmaceuticals has a twelve month low of $2.91 and a twelve month high of $10.89. The firm has a market capitalization of $147.64, a PE ratio of -2.05 and a beta of 2.80.

Oncomed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.13. The firm had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $6.25 million. During the same period last year, the business posted ($0.77) EPS. The company’s revenue was down 13.7% compared to the same quarter last year. analysts anticipate that Oncomed Pharmaceuticals will post -1.62 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN boosted its stake in Oncomed Pharmaceuticals by 1.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 329,100 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 4,750 shares during the period. Hodges Capital Management Inc. boosted its stake in Oncomed Pharmaceuticals by 155.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 15,592 shares during the period. Citadel Advisors LLC boosted its stake in Oncomed Pharmaceuticals by 289.8% in the 2nd quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 34,197 shares during the period. Vanguard Group Inc. boosted its stake in Oncomed Pharmaceuticals by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 995,646 shares of the biopharmaceutical company’s stock worth $3,315,000 after purchasing an additional 50,161 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Oncomed Pharmaceuticals by 1,426.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 83,345 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 77,886 shares during the period. Institutional investors and hedge funds own 39.38% of the company’s stock.

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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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