OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) has been assigned a $5.00 price target by stock analysts at Jefferies Group LLC in a research note issued on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 16.55% from the company’s previous close.

A number of other brokerages have also recently commented on OMED. HC Wainwright cut their price target on shares of OncoMed Pharmaceuticals from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, May 15th. Piper Jaffray Companies set a $5.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, July 10th. ValuEngine cut shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Cantor Fitzgerald set a $6.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, May 9th. One equities research 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. The company presently has an average rating of “Hold” and a consensus target price of $8.00.

OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 4.29 on Friday. The company’s 50-day moving average price is $3.73 and its 200-day moving average price is $5.41. OncoMed Pharmaceuticals has a 1-year low of $2.91 and a 1-year high of $12.58. The stock’s market cap is $161.43 million.

OncoMed Pharmaceuticals (NASDAQ:OMED) last released its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.10. The company had revenue of $6.20 million during the quarter, compared to the consensus estimate of $6.08 million. During the same quarter in the previous year, the business posted ($0.91) EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. Analysts predict that OncoMed Pharmaceuticals will post ($1.85) EPS for the current year.

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In other news, Director Perry A. Karsen bought 10,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $3.46 per share, for a total transaction of $34,600.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $34,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 32.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA raised its stake in shares of OncoMed Pharmaceuticals by 5.9% in the first quarter. Primecap Management Co. CA now owns 1,906,600 shares of the biopharmaceutical company’s stock worth $17,560,000 after buying an additional 105,900 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of OncoMed Pharmaceuticals by 5.3% in the second quarter. Vanguard Group Inc. now owns 995,646 shares of the biopharmaceutical company’s stock worth $3,315,000 after buying an additional 50,161 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of OncoMed Pharmaceuticals by 42.1% in the second quarter. Ameriprise Financial Inc. now owns 966,995 shares of the biopharmaceutical company’s stock worth $3,221,000 after buying an additional 286,545 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of OncoMed Pharmaceuticals by 13.7% in the first quarter. Renaissance Technologies LLC now owns 533,600 shares of the biopharmaceutical company’s stock worth $4,914,000 after buying an additional 64,300 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. raised its stake in shares of OncoMed Pharmaceuticals by 23.1% in the second quarter. Cannell Peter B & Co. Inc. now owns 407,741 shares of the biopharmaceutical company’s stock worth $1,358,000 after buying an additional 76,445 shares in the last quarter. Institutional investors own 44.18% of the company’s stock.

OncoMed Pharmaceuticals Company Profile

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).

Analyst Recommendations for OncoMed Pharmaceuticals (NASDAQ:OMED)

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