H.C. Wainwright Starts OncoMed Pharmaceuticals (OMED) at Buy

September 22, 2016 7:21 AM EDT
Get Alerts OMED Hot Sheet
Price: $7.62 -0.65%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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H.C. Wainwright initiated coverage on OncoMed Pharmaceuticals (NASDAQ: OMED) with a Buy rating and a price target of $20. Analyst Shaunak Deepak thinks investors should buy ahead of possible partner opt-ins.

"We believe OncoMed is entering a year of dramatic changes with upcoming opt-in decisions for its lead drug candidates expected from ts three partners Celgene (CELG; not rated), Bayer (BAYN; not rated), and GlaxoSmithKline (GSK; not rated). In addition to near-term optin milestones that could reach $172M, we believe these partnerships could payoff with long-term benefits and free-up OncoMed’s resources to pursue new development activities," said Deepak.

For an analyst ratings summary and ratings history on OncoMed Pharmaceuticals click here. For more ratings news on OncoMed Pharmaceuticals click here.

Shares of OncoMed Pharmaceuticals closed at $11.87 yesterday.

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