Somewhat Favorable Press Coverage Somewhat Unlikely to Impact OncoMed Pharmaceuticals (OMED) Stock Price

Press coverage about OncoMed Pharmaceuticals (NASDAQ:OMED) has trended somewhat positive on Friday, according to Accern. Accern rates the sentiment of news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. OncoMed Pharmaceuticals earned a news impact score of 0.21 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 44.8053434885053 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:

Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) traded down 3.85% during midday trading on Friday, hitting $4.24. The stock had a trading volume of 45,262 shares. The company’s 50 day moving average is $4.52 and its 200 day moving average is $4.30. The firm’s market cap is $159.55 million. OncoMed Pharmaceuticals has a 52 week low of $2.91 and a 52 week high of $11.89.

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

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $6.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 28th. SunTrust Banks, Inc. restated a “hold” rating and issued a $4.00 target price on shares of OncoMed Pharmaceuticals in a research note on Friday, October 6th. Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Wednesday, October 4th. Finally, Piper Jaffray Companies set a $5.00 target price on OncoMed Pharmaceuticals and gave the company a “hold” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. OncoMed Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $5.84.

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About OncoMed Pharmaceuticals

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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