Oncomed Pharmaceuticals (NASDAQ:OMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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. “

A number of other research analysts have also recently commented on OMED. Cantor Fitzgerald reiterated a “hold” rating and issued a $6.00 price objective on shares of Oncomed Pharmaceuticals in a report on Tuesday, September 19th. Jefferies Group reiterated a “buy” rating and issued a $5.00 price objective on shares of Oncomed Pharmaceuticals in a report on Thursday, September 28th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $4.00 price objective on shares of Oncomed Pharmaceuticals in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.81.

Oncomed Pharmaceuticals (NASDAQ OMED) opened at $3.79 on Friday. Oncomed Pharmaceuticals has a twelve month low of $2.91 and a twelve month high of $10.89.

Oncomed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.13. The business had revenue of $5.11 million during the quarter, compared to analyst estimates of $6.25 million. During the same quarter in the prior year, the company posted ($0.77) earnings per share. The company’s revenue was down 13.7% on a year-over-year basis. equities research analysts forecast that Oncomed Pharmaceuticals will post -1.62 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN raised its position in Oncomed Pharmaceuticals by 1.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 329,100 shares of the biopharmaceutical company’s stock valued at $1,096,000 after purchasing an additional 4,750 shares during the period. Hodges Capital Management Inc. raised its position in Oncomed Pharmaceuticals by 155.9% in the third quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 15,592 shares during the period. Citadel Advisors LLC raised its position in Oncomed Pharmaceuticals by 289.8% in the second quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 34,197 shares during the period. Vanguard Group Inc. raised its position in Oncomed Pharmaceuticals by 5.3% in the second quarter. Vanguard Group Inc. now owns 995,646 shares of the biopharmaceutical company’s stock valued at $3,315,000 after purchasing an additional 50,161 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Oncomed Pharmaceuticals by 1,426.7% in the second quarter. JPMorgan Chase & Co. now owns 83,345 shares of the biopharmaceutical company’s stock valued at $277,000 after purchasing an additional 77,886 shares during the period. 39.38% of the stock is currently owned by institutional investors.

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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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