OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $2.96 and last traded at $2.96, with a volume of 231,124 shares traded. The stock had previously closed at $3.24.
A number of equities analysts recently commented on OMED shares. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price target on shares of OncoMed Pharmaceuticals in a research note on Sunday, July 9th. HC Wainwright decreased their price target on 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 OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, July 10th. Cantor Fitzgerald reiterated a “hold” rating and issued a $6.00 price target on shares of OncoMed Pharmaceuticals in a research note on Tuesday, April 25th. Finally, ValuEngine downgraded OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $8.00.
The company’s 50-day moving average price is $3.62 and its 200 day moving average price is $5.55. The company’s market capitalization is $159.93 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.10. The business had revenue of $6.20 million during the quarter, compared to analyst estimates of $6.08 million. During the same period last year, the company earned ($0.91) EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts predict that OncoMed Pharmaceuticals, Inc. will post ($1.85) EPS for the current year.
In other news, Director Jack W. Lasersohn acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $3.55 per share, with a total value of $71,000.00. Following the completion of the purchase, the director now owns 151,095 shares of the company’s stock, valued at $536,387.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Perry A. Karsen acquired 10,000 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were purchased at an average cost of $3.46 per share, for a total transaction of $34,600.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $34,600. The disclosure for this purchase can be found here. Insiders purchased 64,614 shares of company stock valued at $222,249 in the last three months. Company insiders own 32.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of OMED. Disciplined Growth Investors Inc. MN boosted its stake in shares of OncoMed Pharmaceuticals by 1.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 329,100 shares of the biopharmaceutical company’s stock valued at $1,096,000 after buying an additional 4,750 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of OncoMed Pharmaceuticals by 143.0% in the second quarter. Goldman Sachs Group Inc. now owns 170,439 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 100,309 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of OncoMed Pharmaceuticals by 289.8% in the second quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 34,197 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $3,315,000 after buying an additional 50,161 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted 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 valued at $3,221,000 after buying an additional 286,545 shares in the last quarter. 44.18% of the stock is currently owned by hedge funds and other institutional investors.
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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).
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