H.C. Wainwright Starts OncoMed Pharmaceuticals (OMED) at Buy
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Shares of OncoMed Pharmaceuticals closed at $11.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Jefferies Raises Price Target as Cheesecake Factory (CAKE) Posts 3Q Beat
- BTIG Upgrades Neogenomics (NEO) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
Related EntitiesH.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!