- Recent IPO OncoMed Pharmaceuticals (OMED-2%) slips today despite a few upbeat initiations by Wall Street firms:
- Jefferies starts the shares with a Buy and a $27 price target, saying OMED is a leader in the science behind cancer stem cells, which are thought to drive progression and metastases, and has generated five clinical stage candidates in Phase 1 trials using its platform, which has created multiple opportunities for success in major solid tumors and hematologic malignancies.
- Jefferies acted as lead bookrunner in the IPO In July.
- Leerink Swann and BMO Capital also ramp up coverage with an Outperform, and Piper Jaffray with an Overweight.
Oncomed comes off its quiet period with a few upbeat initiations
Aug 12 2013, 13:58 ET