Equities analysts expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to report $6.25 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for OncoMed Pharmaceuticals’ earnings. The lowest sales estimate is $6.20 million and the highest is $6.30 million. OncoMed Pharmaceuticals reported sales of $6.67 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.3%. The company is expected to report its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full-year sales of $6.25 million for the current year, with estimates ranging from $6.21 million to $25.00 million. For the next fiscal year, analysts forecast that the business will report sales of $30.78 million per share, with estimates ranging from $24.90 million to $48.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.01. The firm had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $5.85 million. During the same period last year, the firm earned ($0.90) earnings per share. OncoMed Pharmaceuticals’s revenue for the quarter was down 2.4% on a year-over-year basis.
OMED has been the topic of several research reports. Piper Jaffray Companies lowered shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut their price target for the company from $17.00 to $5.00 in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and issued a $5.00 price target on shares of OncoMed Pharmaceuticals in a report on Sunday, July 9th. Cantor Fitzgerald set a $6.00 price target on shares of OncoMed Pharmaceuticals and gave the company a “hold” rating in a report on Tuesday, May 9th. HC Wainwright restated a “buy” rating and issued a $9.00 price target (down previously from $20.00) on shares of OncoMed Pharmaceuticals in a report on Tuesday, April 11th. Finally, ValuEngine lowered shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. OncoMed Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $8.00.
In other news, Director Jack W. Lasersohn acquired 23,507 shares of the stock in a transaction on Tuesday, May 16th. The stock was bought at an average price of $3.49 per share, with a total value of $82,039.43. Following the completion of the transaction, the director now directly owns 131,095 shares of the company’s stock, valued at $457,521.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan D. Root sold 7,487 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $3.70, for a total transaction of $27,701.90. Following the completion of the sale, the director now directly owns 121,020 shares of the company’s stock, valued at approximately $447,774. The disclosure for this sale can be found here. Insiders acquired 88,121 shares of company stock valued at $304,289 in the last ninety days. 32.80% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY purchased a new stake in shares of OncoMed Pharmaceuticals during the first quarter valued at about $160,000. Highbridge Capital Management LLC increased its stake in shares of OncoMed Pharmaceuticals by 34.6% in the first quarter. Highbridge Capital Management LLC now owns 49,372 shares of the biopharmaceutical company’s stock valued at $455,000 after buying an additional 12,698 shares during the period. Bank of America Corp DE increased its stake in shares of OncoMed Pharmaceuticals by 11.3% in the first quarter. Bank of America Corp DE now owns 156,596 shares of the biopharmaceutical company’s stock valued at $1,442,000 after buying an additional 15,850 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of OncoMed Pharmaceuticals by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,999 shares of the biopharmaceutical company’s stock valued at $756,000 after buying an additional 4,617 shares during the period. Finally, KCG Holdings Inc. purchased a new stake in shares of OncoMed Pharmaceuticals during the first quarter valued at about $103,000. 44.45% of the stock is owned by institutional investors.
OncoMed Pharmaceuticals (OMED) opened at 3.39 on Friday. OncoMed Pharmaceuticals has a 52 week low of $3.14 and a 52 week high of $12.71. The firm’s 50-day moving average is $3.55 and its 200-day moving average is $5.98. The stock’s market capitalization is $127.54 million.
OncoMed Pharmaceuticals Company Profile
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing therapeutics that address the fundamental biology driving cancer’s growth, resistance, recurrence and metastasis. The Company’s therapeutic candidates and preclinical programs include Demcizumab (Anti-DLL4, OMP-21M18), Tarextumab (Anti-Notch2/3, OMP-59R5), Vantictumab (anti-Fzd7, OMP-18R5), Ipafricept (Fzd8-Fc, OMP-54F28), Brontictuzumab (Anti-Notch1, OMP-52M51), Navicixizumab (Anti-DLL4/VEGF Bispecific, OMP-305B83), Anti-RSPO3 (OMP-131R10), Anti-TIGIT (OMP-313M32) and GITRL-Fc trimer (OMP-336B11).
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