In a report released today, Edward White from H.C. Wainwright maintained a Hold rating on OncoMed Pharma (OMED), with a price target of $2. The company’s shares opened today at $1.76, close to its 52-week low of $1.52.
White wrote:
“We are lowering our 4Q18E EPS estimate to ($0.22) from ($0.13) and raising our FY18E EPS estimate to ($0.31) from ($0.50). For FY19E, we are lowering our EPS estimate to ($0.90) from ($0.67). OncoMed has $70.9 in cash, cash equivalents and short-term investments as of September 30, 2018. Management reiterated that OncoMed’s current cash runway should last through at least 4Q19, without taking into account future potential milestone or opt-in payments from its partners. It guided operating cash burn would be less than $55 million for 2018, ex milestone or opt-in payments.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.3% and a 45.2% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
OncoMed Pharma has an analyst consensus of Hold, with a price target consensus of $2.
See today’s analyst top recommended stocks >>
OncoMed Pharma’s market cap is currently $68.96M and has a P/E ratio of 11.27. The company has a Price to Book ratio of 1.33.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
