Cantor Fitzgerald set a $6.00 target price on OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) in a research note released on Tuesday, May 9th. The firm currently has a hold rating on the biopharmaceutical company’s stock.
OMED has been the topic of a number of other research reports. Zacks Investment Research raised OncoMed Pharmaceuticals from a hold rating to a buy rating and set a $10.00 target price on the stock in a report on Thursday, March 23rd. BMO Capital Markets lowered OncoMed Pharmaceuticals from an outperform rating to a market perform rating and set a $6.00 target price on the stock. in a report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a buy rating and issued a $10.00 target price (down previously from $15.00) on shares of OncoMed Pharmaceuticals in a report on Tuesday, April 11th. Piper Jaffray Companies lowered OncoMed Pharmaceuticals from an overweight rating to a neutral rating and lowered their target price for the company from $17.00 to $5.00 in a report on Monday, April 17th. Finally, JMP Securities lowered OncoMed Pharmaceuticals from an outperform rating to a market perform rating in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $8.63.
OncoMed Pharmaceuticals (OMED) opened at 3.70 on Tuesday. The stock’s market cap is $139.21 million. OncoMed Pharmaceuticals has a 12-month low of $3.14 and a 12-month high of $13.41. The firm has a 50-day moving average price of $3.62 and a 200-day moving average price of $6.97.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.01. The company had revenue of $6.20 million during the quarter, compared to the consensus estimate of $5.85 million. During the same period in the previous year, the business posted ($0.90) earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts forecast that OncoMed Pharmaceuticals will post ($1.77) EPS for the current fiscal year.
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In other news, insider Sunil Patel sold 5,754 shares of OncoMed Pharmaceuticals stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total transaction of $52,131.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Alicia J. Hager sold 4,316 shares of OncoMed Pharmaceuticals stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total value of $39,102.96. The disclosure for this sale can be found here. In the last three months, insiders have bought 88,121 shares of company stock worth $304,289 and have sold 37,910 shares worth $229,076. 32.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. BVF Inc. IL raised 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 valued at $20,711,000 after buying an additional 472,669 shares in the last quarter. State Street Corp raised 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 valued at $2,628,000 after buying an additional 46,171 shares in the last quarter. FMR LLC raised 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 valued at $7,734,000 after buying an additional 91,835 shares in the last quarter. Disciplined Growth Investors Inc. MN raised 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 valued at $2,520,000 after buying an additional 25,975 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of OncoMed Pharmaceuticals by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 469,300 shares of the biopharmaceutical company’s stock valued at $3,618,000 after buying an additional 217,700 shares in the last quarter. 44.69% of the stock is currently 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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