Oncomed Pharmaceuticals Inc (NASDAQ:OMED) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.17.

A number of brokerages have recently weighed in on OMED. Zacks Investment Research lowered Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. ValuEngine lowered Oncomed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Wells Fargo & Co restated a “market perform” rating and set a $1.50 price target (down previously from $8.00) on shares of Oncomed Pharmaceuticals in a research note on Thursday, December 6th. Finally, HC Wainwright dropped their price target on Oncomed Pharmaceuticals from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, September 21st.

Oncomed Pharmaceuticals stock traded down $0.08 during trading hours on Thursday, reaching $0.79. The stock had a trading volume of 776,886 shares, compared to its average volume of 165,804. The company has a market capitalization of $36.70 million, a PE ratio of -0.78 and a beta of 1.95. Oncomed Pharmaceuticals has a 52 week low of $0.79 and a 52 week high of $4.20.

Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.36. Oncomed Pharmaceuticals had a return on equity of 25.81% and a net margin of 10.98%. The business had revenue of $19.52 million for the quarter, compared to analyst estimates of $7.97 million. On average, equities research analysts predict that Oncomed Pharmaceuticals will post -0.31 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of OMED. Nexthera Capital LP purchased a new stake in Oncomed Pharmaceuticals in the third quarter valued at approximately $1,346,000. Acadian Asset Management LLC purchased a new stake in Oncomed Pharmaceuticals in the second quarter valued at approximately $320,000. Primecap Management Co. CA boosted its position in Oncomed Pharmaceuticals by 2.4% in the third quarter. Primecap Management Co. CA now owns 5,698,700 shares of the biopharmaceutical company’s stock valued at $12,081,000 after buying an additional 135,000 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in Oncomed Pharmaceuticals in the second quarter valued at approximately $254,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Oncomed Pharmaceuticals in the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 48.64% of the company’s stock.

About Oncomed Pharmaceuticals

OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.

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