H.C. Wainwright analyst Edward White maintained a Hold rating on OncoMed Pharma (NASDAQ: OMED) today and set a price target of $3. The company’s shares opened today at $2.30, close to its 52-week low of $1.74.
According to TipRanks.com, White is a 5-star analyst with an average return of 24.9% and a 54.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for OncoMed Pharma with a $3 average price target.
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Based on OncoMed Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.98 million. In comparison, last year the company had a GAAP net loss of $15.23 million.
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OncoMed Pharmaceuticals, Inc. operates as a clinical stage biopharmaceutical company, which focuses on discovering and developing novel therapeutics for cancer’s growth, resistance, recurrence and metastasis. The company was founded by Michael F. Clarke and Max Wicha in August 2004 and is headquartered in Redwood City, CA.
