Cantor Fitzgerald set a $6.00 price objective on Oncomed Pharmaceuticals Inc (NASDAQ:OMED) in a report issued on Tuesday, May 9th. The firm currently has a hold rating on the biopharmaceutical company’s stock.
Several other brokerages also recently weighed in on OMED. BMO Capital Markets reiterated a buy rating and issued a $18.00 target price on shares of Oncomed Pharmaceuticals in a research note on Tuesday, March 14th. Zacks Investment Research upgraded Oncomed Pharmaceuticals from a hold rating to a buy rating and set a $10.00 target price on the stock in a research note on Thursday, March 23rd. HC Wainwright set a $20.00 price target on Oncomed Pharmaceuticals and gave the company a buy rating in a report on Saturday, March 11th. Jefferies Group LLC reissued a buy rating and issued a $10.00 price target (down from $15.00) on shares of Oncomed Pharmaceuticals in a report on Tuesday, April 11th. Finally, Leerink Swann raised their price target on Oncomed Pharmaceuticals from $6.00 to $10.00 and gave the company a market perform rating in a report on Tuesday, April 11th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $12.11.
Shares of Oncomed Pharmaceuticals (NASDAQ:OMED) traded up 0.83% during midday trading on Tuesday, hitting $3.64. The stock had a trading volume of 401,291 shares. The stock’s market cap is $136.95 million. Oncomed Pharmaceuticals has a one year low of $3.25 and a one year high of $15.35. The firm has a 50 day moving average price of $4.95 and a 200 day moving average price of $7.75.
Oncomed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.01. Oncomed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 409.54%. The company had revenue of $6.20 million for the quarter, compared to the consensus estimate of $5.85 million. During the same period last year, the business posted ($0.90) EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Oncomed Pharmaceuticals will post ($1.77) earnings per share for the current fiscal year.
In other Oncomed Pharmaceuticals news, Director Jack W. Lasersohn acquired 23,507 shares of the stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average price of $3.49 per share, with a total value of $82,039.43. Following the completion of the transaction, the director now directly owns 131,095 shares in the company, valued at $457,521.55. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul J. Hastings sold 6,473 shares of Oncomed Pharmaceuticals stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $9.06, for a total value of $58,645.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,543 shares of company stock valued at $149,880. Insiders own 41.25% of the company’s stock.
Several large investors have recently made changes to their positions in OMED. BVF Inc. IL increased its stake in shares of Oncomed Pharmaceuticals by 35.3% in the third quarter. BVF Inc. IL now owns 1,812,005 shares of the biopharmaceutical company’s stock worth $20,711,000 after buying an additional 472,669 shares in the last quarter. State Street Corp increased its stake in shares of Oncomed Pharmaceuticals by 15.6% in the fourth quarter. State Street Corp now owns 341,271 shares of the biopharmaceutical company’s stock worth $2,628,000 after buying an additional 46,171 shares in the last quarter. FMR LLC increased its stake in shares of Oncomed Pharmaceuticals by 10.1% in the fourth quarter. FMR LLC now owns 1,003,138 shares of the biopharmaceutical company’s stock worth $7,734,000 after buying an additional 91,835 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Oncomed Pharmaceuticals by 8.6% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 326,900 shares of the biopharmaceutical company’s stock worth $2,520,000 after buying an additional 25,975 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Oncomed Pharmaceuticals by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 469,300 shares of the biopharmaceutical company’s stock worth $3,618,000 after buying an additional 217,700 shares during the period. 42.24% of the stock is owned by institutional investors and hedge funds.
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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