OncoMed Pharmaceuticals Inc. (OMED) Research Coverage Started at SunTrust Banks Inc.

OncoMed Pharmaceuticals Inc. (OMED) Research Coverage Started at SunTrust Banks Inc.

SunTrust Banks Inc. initiated coverage on shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) in a research note released on Monday. The firm issued a buy rating and a $16.00 price target on the biopharmaceutical company’s stock.

OMED has been the subject of several other research reports. Zacks Investment Research downgraded shares of OncoMed Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, November 26th. Leerink Swann restated a market perform rating and set a $13.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Monday, October 10th. Cantor Fitzgerald set a $16.00 price objective on shares of OncoMed Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, November 2nd. Finally, HC Wainwright began coverage on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They set a buy rating and a $20.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $18.89.

Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 7.44 on Monday. The firm’s market cap is $275.96 million. OncoMed Pharmaceuticals has a 52-week low of $7.42 and a 52-week high of $23.98. The company’s 50-day moving average is $8.73 and its 200 day moving average is $10.77.

OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, hitting the consensus estimate of ($0.77). The business earned $5.92 million during the quarter, compared to the consensus estimate of $9.48 million. OncoMed Pharmaceuticals had a negative net margin of 409.54% and a negative return on equity of 1,307.23%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.81) EPS. On average, analysts expect that OncoMed Pharmaceuticals will post ($3.24) earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. increased its stake in OncoMed Pharmaceuticals by 59.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 167,000 shares of the biopharmaceutical company’s stock valued at $2,056,000 after buying an additional 62,000 shares during the period. Alps Advisors Inc. boosted its position in shares of OncoMed Pharmaceuticals by 25.7% in the second quarter. Alps Advisors Inc. now owns 42,562 shares of the biopharmaceutical company’s stock valued at $524,000 after buying an additional 8,701 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of OncoMed Pharmaceuticals by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 89,819 shares of the biopharmaceutical company’s stock valued at $1,106,000 after buying an additional 4,226 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of OncoMed Pharmaceuticals by 2.6% in the second quarter. California State Teachers Retirement System now owns 36,733 shares of the biopharmaceutical company’s stock valued at $452,000 after buying an additional 926 shares in the last quarter. Finally, Granite Point Capital Management L.P. purchased a new position in shares of OncoMed Pharmaceuticals during the second quarter valued at about $1,131,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

OncoMed Pharmaceuticals Company Profile

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