Zacks Investment Research Lowers OncoMed Pharmaceuticals, Inc. (OMED) to Hold
Zacks Investment Research cut shares of OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) from a buy rating to a hold rating in a research note released on Thursday morning.
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 research analysts have also recently issued reports on OMED. Jefferies Group LLC set a $5.00 target price on shares of OncoMed Pharmaceuticals and gave the stock a buy rating in a report on Friday, August 25th. Cantor Fitzgerald reissued a hold rating and set a $6.00 target price on shares of OncoMed Pharmaceuticals in a report on Tuesday, September 19th. Finally, SunTrust Banks, Inc. reissued a hold rating and set a $4.00 target price 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. OncoMed Pharmaceuticals currently has a consensus rating of Hold and an average target price of $5.94.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded up $0.14 during midday trading on Thursday, hitting $4.87. 193,300 shares of the company’s stock were exchanged, compared to its average volume of 145,923. OncoMed Pharmaceuticals has a fifty-two week low of $2.91 and a fifty-two week high of $10.89.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.13. The business had revenue of $5.11 million for the quarter, compared to analysts’ expectations of $6.25 million. During the same period last year, the business earned ($0.77) EPS. The company’s revenue for the quarter was down 13.7% on a year-over-year basis. sell-side analysts expect that OncoMed Pharmaceuticals will post -1.64 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. grew its position in OncoMed Pharmaceuticals by 9.0% during the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 905 shares during the period. KCG Holdings Inc. acquired a new stake in OncoMed Pharmaceuticals during the first quarter valued at $103,000. Russell Investments Group Ltd. acquired a new stake in OncoMed Pharmaceuticals during the first quarter valued at $141,000. Metropolitan Life Insurance Co. NY acquired a new stake in OncoMed Pharmaceuticals during the first quarter valued at $160,000. Finally, Hodges Capital Management Inc. grew its position in OncoMed Pharmaceuticals by 155.9% during the third quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 15,592 shares during the period. Institutional investors own 51.67% 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for OncoMed Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OncoMed Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.