Brokerages Expect OncoMed Pharmaceuticals, Inc. (OMED) to Post -$0.48 Earnings Per Share
Brokerages expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to report earnings of ($0.48) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for OncoMed Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.65) and the highest estimate coming in at ($0.37). OncoMed Pharmaceuticals reported earnings per share of ($0.91) during the same quarter last year, which indicates a positive year-over-year growth rate of 47.3%. The company is scheduled to announce its next earnings report on Tuesday, August 8th.
On average, analysts expect that OncoMed Pharmaceuticals will report full year earnings of ($1.85) per share for the current year, with EPS estimates ranging from ($2.31) to ($1.57). For the next fiscal year, analysts anticipate that the firm will post earnings of ($1.50) per share, with EPS estimates ranging from ($1.92) to ($0.71). Zacks’ EPS averages are an average based on a survey of analysts that cover OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.62) by $0.01. The firm had revenue of $6.20 million during the quarter, compared to analysts’ expectations of $5.85 million. During the same period in the prior year, the company posted ($0.90) EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year.
OMED has been the subject of several analyst reports. Piper Jaffray Companies downgraded shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut their target price for the company from $17.00 to $5.00 in a research note on Monday, April 17th. Jefferies Group LLC reissued a “buy” rating and issued a $5.00 target price on shares of OncoMed Pharmaceuticals in a research note on Sunday, July 9th. Cantor Fitzgerald set a $6.00 target price on shares of OncoMed Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, May 9th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price (down previously from $20.00) on shares of OncoMed Pharmaceuticals in a research note on Tuesday, April 11th. Finally, ValuEngine downgraded shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.00.
In other OncoMed Pharmaceuticals news, Director Jack W. Lasersohn purchased 34,614 shares of the stock in a transaction on Thursday, May 25th. The stock was bought at an average price of $3.37 per share, for a total transaction of $116,649.18. Following the acquisition, the director now directly owns 185,709 shares of the company’s stock, valued at $625,839.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Perry A. Karsen purchased 10,000 shares of the stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $3.46 per share, with a total value of $34,600.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $34,600. The disclosure for this purchase can be found here. Insiders acquired a total of 88,121 shares of company stock valued at $304,289 in the last 90 days. 32.80% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY acquired a new stake in OncoMed Pharmaceuticals during the first quarter valued at approximately $160,000. Highbridge Capital Management LLC boosted its stake in 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 boosted its stake in 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. boosted its stake in 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. acquired a new stake in OncoMed Pharmaceuticals during the first quarter valued at approximately $103,000. Institutional investors own 44.45% of the company’s stock.
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Shares of OncoMed Pharmaceuticals (OMED) traded down 7.26% during midday trading on Thursday, hitting $3.32. 250,539 shares of the company were exchanged. The stock’s market capitalization is $124.91 million. OncoMed Pharmaceuticals has a 52-week low of $3.14 and a 52-week high of $12.71. The company has a 50-day moving average price of $3.55 and a 200-day moving average price of $6.01.
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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