SunTrust Banks, Inc. restated their hold rating on shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) in a research report report published on Friday, October 6th. They currently have a $4.00 target price on the biopharmaceutical company’s stock.
Several other equities analysts have also commented on OMED. Jefferies Group LLC reaffirmed a buy rating and issued a $5.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Sunday, July 9th. Piper Jaffray Companies set a $5.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a hold rating in a research report on Monday, July 10th. Cantor Fitzgerald reissued a hold rating and set a $6.00 price target on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. Finally, Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a hold rating to a buy rating and set a $4.75 price target for the company in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $5.84.
Shares of OncoMed Pharmaceuticals (NASDAQ OMED) opened at 3.77 on Friday. OncoMed Pharmaceuticals has a 52 week low of $2.91 and a 52 week high of $10.89. The company’s market cap is $141.87 million. The company has a 50 day moving average of $4.47 and a 200 day moving average of $4.11.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.08 million. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.91) earnings per share. On average, analysts expect that OncoMed Pharmaceuticals will post ($1.85) EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of OncoMed Pharmaceuticals by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 995,646 shares of the biopharmaceutical company’s stock worth $3,315,000 after acquiring an additional 50,161 shares during the period. Ameriprise Financial Inc. raised its holdings in OncoMed Pharmaceuticals by 42.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 966,995 shares of the biopharmaceutical company’s stock valued at $3,221,000 after buying an additional 286,545 shares during the period. Renaissance Technologies LLC raised its holdings in OncoMed Pharmaceuticals by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 533,600 shares of the biopharmaceutical company’s stock valued at $4,914,000 after buying an additional 64,300 shares during the period. Cannell Peter B & Co. Inc. raised its holdings in OncoMed Pharmaceuticals by 23.1% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 407,741 shares of the biopharmaceutical company’s stock valued at $1,358,000 after buying an additional 76,445 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its holdings 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 valued at $1,096,000 after buying an additional 4,750 shares during the period. Institutional investors and hedge funds own 51.72% of the company’s stock.
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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