Equities researchers at HC Wainwright assumed coverage on shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
OMED has been the topic of a number of other research reports. Mizuho lowered their price target on OncoMed Pharmaceuticals from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, June 1st. Cantor Fitzgerald reaffirmed a “buy” rating on shares of OncoMed Pharmaceuticals in a research note on Wednesday, June 8th. Zacks Investment Research lowered OncoMed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 13th. Finally, Jefferies Group upped their target price on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $19.29.
Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 11.87 on Thursday. The stock has a 50 day moving average price of $11.08 and a 200-day moving average price of $11.66. The firm’s market capitalization is $364.06 million. OncoMed Pharmaceuticals has a 52 week low of $8.42 and a 52 week high of $23.98.
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OncoMed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. The firm earned $6.67 million during the quarter, compared to analyst estimates of $8.09 million. OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 424.46%. The business’s revenue was up 42.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.72) EPS. Equities analysts anticipate that OncoMed Pharmaceuticals will post ($3.34) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BVF Inc. IL raised its position in shares of OncoMed Pharmaceuticals by 35.1% in the first quarter. BVF Inc. IL now owns 1,339,336 shares of the biopharmaceutical company’s stock worth $13,541,000 after buying an additional 347,903 shares in the last quarter. TFS Capital LLC raised its position in shares of OncoMed Pharmaceuticals by 459.7% in the second quarter. TFS Capital LLC now owns 138,394 shares of the biopharmaceutical company’s stock worth $1,704,000 after buying an additional 113,668 shares in the last quarter. Bogle Investment Management L P DE acquired a new position in shares of OncoMed Pharmaceuticals during the first quarter worth $1,131,000. Barclays PLC raised its position in shares of OncoMed Pharmaceuticals by 916.3% in the first quarter. Barclays PLC now owns 117,537 shares of the biopharmaceutical company’s stock worth $1,175,000 after buying an additional 105,972 shares in the last quarter. Finally, Turner Investments L.P. acquired a new position in shares of OncoMed Pharmaceuticals during the second quarter worth $1,155,000. 30.66% of the stock is currently owned by institutional investors.
About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product 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), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.
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