Oncomed Pharmaceuticals (OMED) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Oncomed Pharmaceuticals (NASDAQ:OMED) from a buy rating to a hold rating in a report issued on Saturday, January 6th.

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 weighed in on OMED. Jefferies Group reissued a buy rating and set a $5.00 price objective on shares of Oncomed Pharmaceuticals in a research note on Thursday, September 28th. Cantor Fitzgerald set a $6.00 target price on shares of Oncomed Pharmaceuticals and gave the stock a hold rating in a research note on Thursday, January 4th. Finally, SunTrust Banks reaffirmed a hold rating and issued a $4.00 target price on shares of Oncomed Pharmaceuticals in a research note on Friday, October 6th. One 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. Oncomed Pharmaceuticals currently has an average rating of Hold and a consensus price target of $5.81.

Shares of Oncomed Pharmaceuticals (NASDAQ OMED) opened at $3.07 on Friday. Oncomed Pharmaceuticals has a 12-month low of $2.91 and a 12-month high of $10.89. The stock has a market cap of $116.22, a P/E ratio of -1.62 and a beta of 2.80.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC acquired a new position in shares of Oncomed Pharmaceuticals in the 3rd quarter valued at $4,693,000. Goldman Sachs Group Inc. boosted its holdings in shares of Oncomed Pharmaceuticals by 143.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 170,439 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 100,309 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Oncomed Pharmaceuticals by 5.3% in the 2nd 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 last quarter. Marshall Wace North America L.P. acquired a new position in shares of Oncomed Pharmaceuticals in the 2nd quarter valued at $561,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 purchasing an additional 286,545 shares during the last quarter. Institutional investors 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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