OncoMed Pharmaceuticals (OMED) PT Raised to $16 at Jefferies

Jefferies analyst Brian Abrahams reiterated a Buy rating and boosted his price target on OncoMed Pharmaceuticals (NASDAQ: OMED) to $16.00 (from $15.00) following Q2 update.

Abrahams commented, "OMED will have multiple data updates in 2H16/1H17 as well as potential opt-in catalysts from collaborators. We continue to view their broad pipeline, in-depth understanding of the science, and high-profile collaboration options as an ideal mixture in small cap biotech and undervalued in today's market; expect appreciation as earlier programs start to mature and later-stage programs approach more definitive datapoints. Adjust tgt to $16 on model updates."

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 $12.00 yesterday.

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