FY2017 Earnings Estimate for OncoMed Pharmaceuticals, Inc. (OMED) Issued By Jefferies Group
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) – Stock analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for shares of OncoMed Pharmaceuticals in a report released on Thursday. Jefferies Group analyst M. Raycroft now expects that the biopharmaceutical company will post earnings per share of ($2.06) for the year, up from their prior forecast of ($2.31). Jefferies Group currently has a “Buy” rating and a $5.00 target price on the stock. Jefferies Group also issued estimates for OncoMed Pharmaceuticals’ FY2018 earnings at ($0.64) EPS, FY2019 earnings at $0.22 EPS, FY2020 earnings at $0.45 EPS and FY2021 earnings at $1.14 EPS.
Several other research analysts have also issued reports on OMED. BMO Capital Markets lowered shares of OncoMed Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $6.00 target price on the stock. in a research note on Tuesday, April 11th. HC Wainwright reaffirmed 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. Leerink Swann raised their target price on shares of OncoMed Pharmaceuticals from $6.00 to $10.00 and gave the company a “market perform” rating in a research note on Tuesday, April 11th. Zacks Investment Research lowered shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. Finally, Cantor Fitzgerald lowered shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $6.00 in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.00.
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Shares of OncoMed Pharmaceuticals (OMED) opened at 3.86 on Monday. OncoMed Pharmaceuticals has a 12 month low of $2.94 and a 12 month high of $12.71. The company’s 50-day moving average is $3.52 and its 200-day moving average is $5.87. The firm’s market cap is $143.26 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million for the quarter, compared to analyst estimates of $6.08 million. During the same quarter last year, the business posted ($0.91) EPS. The firm’s revenue was down 7.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in OncoMed Pharmaceuticals by 15.6% in the fourth quarter. State Street Corp now owns 341,271 shares of the biopharmaceutical company’s stock valued at $2,628,000 after buying an additional 46,171 shares during the last quarter. FMR LLC raised its position in OncoMed Pharmaceuticals by 10.1% in the fourth quarter. FMR LLC now owns 1,003,138 shares of the biopharmaceutical company’s stock valued at $7,734,000 after buying an additional 91,835 shares during the last quarter. Renaissance Technologies LLC raised its position in OncoMed Pharmaceuticals by 86.5% in the fourth quarter. Renaissance Technologies LLC now owns 469,300 shares of the biopharmaceutical company’s stock valued at $3,618,000 after buying an additional 217,700 shares during the last quarter. Norges Bank purchased a new position in OncoMed Pharmaceuticals during the fourth quarter valued at $1,406,000. Finally, Teachers Advisors LLC raised its position in OncoMed Pharmaceuticals by 10.8% in the fourth quarter. Teachers Advisors LLC now owns 30,423 shares of the biopharmaceutical company’s stock valued at $235,000 after buying an additional 2,961 shares during the last quarter. 44.20% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Jonathan D. Root sold 7,487 shares of OncoMed Pharmaceuticals 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 transaction, the director now owns 121,020 shares of the company’s stock, valued at approximately $447,774. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack W. Lasersohn acquired 20,000 shares of OncoMed Pharmaceuticals stock in a transaction that occurred on Tuesday, May 23rd. The shares were purchased at an average cost of $3.55 per share, for a total transaction of $71,000.00. Following the purchase, the director now directly owns 151,095 shares in the company, valued at $536,387.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 88,121 shares of company stock worth $304,289 in the last three months. 32.80% of the stock is owned by insiders.
About OncoMed Pharmaceuticals
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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