Oncomed Pharmaceuticals Inc (OMED) is Reiterated by Mizuho to Buy, Raises Price Target to $ 16

Oncomed Pharmaceuticals Inc (OMED) was Reiterated by Mizuho to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $15 . Mizuho advised their investors in a research report released on May 26, 2016.

On the company’s financial health, Oncomed Pharmaceuticals Inc reported $-0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.75. The company had revenue of $6.40 million for the quarter, compared to analysts expectations of $6.75 million. The company’s revenue was down -34.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.49 EPS.

Oncomed Pharmaceuticals Inc opened for trading at $13.87 and hit $14.04 on the upside on Wednesday, eventually ending the session at $13.9, with a gain of 0.72% or 0.1 points. The heightened volatility saw the trading volume jump to 1,08,317 shares. Company has a market cap of $421 M.

In a different news, on Jan 12, 2016, Jakob Dupont (SVP & Chief Medical Officer) sold 2,500 shares at $20.01 per share price. According to the SEC, on Jan 8, 2016, Austin Gurney (officer ) sold 2,162 shares at $21.72 per share price. On Jan 8, 2016, Timothy Hoey (SVP, Cancer Biology) sold 2,162 shares at $21.73 per share price, according to the Form-4 filing with the securities and exchange commission.

OncoMed Pharmaceuticals Inc. (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing protein therapeutics targeting cancer stem cells (CSCs). The Company’s product candidates target CSCs by blocking self-renewal and driving differentiation of CSCs toward a non-tumorigenic state and also impact bulk tumor cells. Its technology is used to identify isolate and evaluate CSCs; identify and/or validate multiple potential targets and pathways critical to CSC self-renewal and differentiation and develop targeted antibody and other protein-based therapeutics that are designed to modulate these CSC targets and inhibit the growth of CSCs. The Company is also engaged in discovering multiple product candidates that target fundamental biological pathways in immuno-oncology. Its products include Demcizumab AntiDLL4/VEGF bispecific Tarextumab AntiNotch1 Vantictumab Ipafricept Wnt 3rd Biologic Wnt Small Molecules and AntiRSPO.

Oncomed Pharmaceuticals Inc

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