OncoMed Pharmaceuticals, Inc. (OMED) was a big mover last session, as its shares rose nearly 10% on the day. The rise came on solid volume too with far more shares changing hands than in a normal session. This breaks the trend for the company since Aug 5, as the stock is now trading above the volatile price range of $17.07 to 21.50.
In the last 30-day frame, the company saw three negative estimate revisions and the Zacks Consensus Estimate also moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
OncoMed Pharmaceuticals currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is negative.
Better-ranked med-biomed gene stocks include Cambrex Corp. (CBM), China Biologic Products, Inc. (CBPO) and Gilead Sciences Inc. (GILD). All three sport a Zacks Rank #1 (Strong Buy).
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