Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) from a hold rating to a buy rating in a report released on Friday. The brokerage currently has $11.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “OncoMed Pharmaceuticals, Inc. is a biopharmaceutical company which focuses on the discovering and developing monoclonal antibody therapeutics for cancer stem cells. It utilizes its technologies to identify, isolate and evaluate CSCs, validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop antibody and other protein-based therapeutics. The company serves the healthcare industry and cancer therapy patients. OncoMed Pharmaceuticals, Inc. is based in Redwood City, United States. “

A number of other brokerages also recently issued reports on OMED. Jefferies Group raised their target price on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a buy rating in a research note on Wednesday, August 10th. HC Wainwright assumed coverage on OncoMed Pharmaceuticals in a research note on Thursday, September 22nd. They issued a buy rating and a $20.00 target price for the company. Leerink Swann reaffirmed a market perform rating and issued a $13.00 target price on shares of OncoMed Pharmaceuticals in a research note on Monday, October 10th. Finally, Cantor Fitzgerald set a $16.00 price objective on OncoMed Pharmaceuticals and gave the stock a buy rating in a research report on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $19.25.

Analyst Recommendations for OncoMed Pharmaceuticals (NASDAQ:OMED)

Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 8.86 on Friday. The stock’s market capitalization is $328.64 million. The company has a 50-day moving average of $9.66 and a 200-day moving average of $11.41. OncoMed Pharmaceuticals has a 1-year low of $8.07 and a 1-year high of $23.98.

OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.77). OncoMed Pharmaceuticals had a negative return on equity of 1,307.23% and a negative net margin of 409.54%. The business earned $5.92 million during the quarter, compared to the consensus estimate of $9.48 million. During the same period last year, the company earned ($0.81) EPS. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities research analysts expect that OncoMed Pharmaceuticals will post ($3.23) EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. BVF Inc. IL boosted its position 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 worth $20,711,000 after buying an additional 472,669 shares during the period. BlackRock Fund Advisors boosted its position in shares of OncoMed Pharmaceuticals by 27.7% in the third quarter. BlackRock Fund Advisors now owns 1,072,171 shares of the biopharmaceutical company’s stock worth $12,255,000 after buying an additional 232,783 shares during the period. First Eagle Investment Management LLC boosted its position in shares of OncoMed Pharmaceuticals by 197.8% in the third quarter. First Eagle Investment Management LLC now owns 230,400 shares of the biopharmaceutical company’s stock worth $2,633,000 after buying an additional 153,030 shares during the period. TFS Capital LLC boosted its position in shares of OncoMed Pharmaceuticals by 459.7% in the second quarter. TFS Capital LLC now owns 138,394 shares of the biopharmaceutical company’s stock worth $1,704,000 after buying an additional 113,668 shares during the period. Finally, Barclays PLC boosted its position in shares of OncoMed Pharmaceuticals by 916.3% in the first quarter. Barclays PLC now owns 117,537 shares of the biopharmaceutical company’s stock worth $1,175,000 after buying an additional 105,972 shares during the period. Institutional investors own 42.47% of the company’s stock.

About OncoMed Pharmaceuticals

OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product 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), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.

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