What’s Ahead for Oncomed Pharmaceuticals Inc (OMED) After Forming Multiple Bottom Pattern?

October 13, 2017 - By test

Investors sentiment decreased to 0.59 in Q2 2017. Its down 0.65, from 1.24 in 2017Q1. It dived, as 26 investors sold Oncomed Pharmaceuticals Inc shares while 23 reduced holdings. 12 funds opened positions while 17 raised stakes. 17.17 million shares or 17.60% more from 14.60 million shares in 2017Q1 were reported.
Qs Ltd Com holds 0% or 2,200 shares. Walleye Trading Limited Com invested 0% of its portfolio in Oncomed Pharmaceuticals Inc (NASDAQ:OMED). Financial Bank Of America Corporation De invested in 158,578 shares. Zacks Invest holds 0% or 23,997 shares in its portfolio. 53,124 are held by Susquehanna Int Grp Inc Incorporated Llp. Paloma Partners Mngmt Co owns 78,350 shares or 0% of their US portfolio. Iguana Management Llc accumulated 400,000 shares or 0.75% of the stock. Bancshares Of Montreal Can invested 0% in Oncomed Pharmaceuticals Inc (NASDAQ:OMED). Tower Rech Capital Limited Company (Trc) owns 0% invested in Oncomed Pharmaceuticals Inc (NASDAQ:OMED) for 11,490 shares. Plante Moran Advsrs Ltd Liability has invested 0% in Oncomed Pharmaceuticals Inc (NASDAQ:OMED). Northern Trust Corp stated it has 76,373 shares. Burt Wealth Advisors holds 0.02% in Oncomed Pharmaceuticals Inc (NASDAQ:OMED) or 7,519 shares. Geode Capital Lc reported 124,569 shares. State Street Corporation holds 0% of its portfolio in Oncomed Pharmaceuticals Inc (NASDAQ:OMED) for 13,100 shares. Bvf Inc Il owns 4.40M shares.

Since May 16, 2017, it had 4 insider purchases, and 3 insider sales for $200,421 activity. LASERSOHN JACK W also bought $116,639 worth of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) on Thursday, May 25. KARSEN PERRY A bought $34,588 worth of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) on Monday, June 5.

The stock of Oncomed Pharmaceuticals Inc (OMED) shows a multiple bottoms pattern with $4.28 target or 3.00 % below today’s $4.41 share price. The 9 months chart pattern indicates high risk for the $165.95 million company. It was reported on Oct, 13 by Finviz.com. If the $4.28 price target is reached, the company will be worth $4.98 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.45% or $0.02 during the last trading session, reaching $4.41. About shares traded. Oncomed Pharmaceuticals Inc (NASDAQ:OMED) has declined 70.06% since October 13, 2016 and is downtrending. It has underperformed by 86.76% the S&P500.

Analysts await Oncomed Pharmaceuticals Inc (NASDAQ:OMED) to report earnings on November, 7. They expect $-0.39 earnings per share, up 49.35 % or $0.38 from last year’s $-0.77 per share. After $-0.40 actual earnings per share reported by Oncomed Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts -2.50 % EPS growth.

Oncomed Pharmaceuticals Inc (NASDAQ:OMED) Ratings Coverage

Among 10 analysts covering OncoMed Pharmaceuticals (NASDAQ:OMED), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. OncoMed Pharmaceuticals had 18 analyst reports since September 9, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Wednesday, January 6 by Mizuho. JMP Securities maintained Oncomed Pharmaceuticals Inc (NASDAQ:OMED) on Wednesday, March 9 with “Market Outperform” rating. Jefferies maintained Oncomed Pharmaceuticals Inc (NASDAQ:OMED) on Thursday, August 24 with “Buy” rating. On Tuesday, September 26 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Tuesday, January 26 by Mizuho. On Friday, October 6 the stock rating was maintained by SunTrust with “Hold”. The firm earned “Buy” rating on Monday, April 18 by Cantor Fitzgerald. The rating was downgraded by Leerink Swann to “Mkt Perform” on Monday, January 25. The stock of Oncomed Pharmaceuticals Inc (NASDAQ:OMED) earned “Buy” rating by H.C. Wainwright on Thursday, September 22. The firm has “Buy” rating given on Wednesday, September 9 by Jefferies.

More notable recent Oncomed Pharmaceuticals Inc (NASDAQ:OMED) news were published by: Seekingalpha.com which released: “OncoMed Pharmaceuticals: Is This $4.50 Busted IPO A Buy?” on September 29, 2017, also Globenewswire.com with their article: “OncoMed’s Phase 2 Trial of Tarextumab in Small Cell Lung Cancer Does Not Meet …” published on April 17, 2017, Fool.com published: “Why Oncomed Pharmaceuticals Inc. Got Slaughtered Today” on April 10, 2017. More interesting news about Oncomed Pharmaceuticals Inc (NASDAQ:OMED) were released by: Globenewswire.com and their article: “OncoMed Doses First Patient with GITRL-Fc in Phase 1a Clinical Trial” published on September 13, 2017 as well as Globenewswire.com‘s news article titled: “OncoMed Announces Workforce Reduction” with publication date: April 24, 2017.

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