OncoMed Pharma Receives a Hold from H.C. Wainwright

In a report released today, Edward White from H.C. Wainwright maintained a Hold rating on OncoMed Pharma (NASDAQ: OMED), with a price target of $3. The company’s shares closed on Friday at $2.88.

White said:

“We are lowering our 2Q18 EPS estimate to ($0.19) from ($0.17) and lowering our FY18 EPS estimate to ($0.73) from ($0.70). For FY19, we are lowering our EPS estimate to ($0.84) from ($0.69). OncoMed has $88.4M in cash, cash equivalents and investments as of March 31, 2018. Management stated that OncoMed’s current cash runway is through at least 3Q19, without taking into account future potential milestone or opt-in payments from its partners. It guided operating cash burn at approximately $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 25.4% and a 52.4% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and Mirati Therapeutics.

OncoMed Pharma has an analyst consensus of Hold, with a price target consensus of $3.

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The company has a one-year high of $5.56 and a one-year low of $1.74. Currently, OncoMed Pharma has an average volume of 171.3K.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.

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OncoMed Pharmaceuticals, Inc. is 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.