OncoMed Pharmaceuticals, Inc. ( OMED ) saw a big move last session, as the company's shares fell by about 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for OMED, as the stock is now down 25.2% since July 23.
This development-stage biotechnology company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for loss hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.
OMED currently has a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the Med-Biomed/Generic industry include Actelion Ltd. ( ALIOF ), Cambrex Corporation. ( CBM ) and China Biologic Products, Inc. ( CBPO ). All these stocks hold a Zacks Rank #1 (Strong Buy).
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