Leerink Swann Comments on OncoMed Pharmaceuticals, Inc.’s Q3 2017 Earnings (OMED)
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) – Leerink Swann decreased their Q3 2017 earnings per share estimates for OncoMed Pharmaceuticals in a report released on Wednesday. Leerink Swann analyst M. Schmidt now expects that the biopharmaceutical company will post earnings of ($0.32) per share for the quarter, down from their previous estimate of ($0.29). Leerink Swann currently has a “Market Perform” rating and a $10.00 price target on the stock. Leerink Swann also issued estimates for OncoMed Pharmaceuticals’ Q4 2017 earnings at ($0.32) EPS, FY2017 earnings at ($1.66) EPS and FY2018 earnings at ($1.57) EPS.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.08 million. During the same period last year, the firm posted ($0.91) EPS. OncoMed Pharmaceuticals’s revenue was down 7.0% on a year-over-year basis.
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Several other equities research analysts have also recently weighed in on OMED. BMO Capital Markets cut shares of OncoMed Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $6.00 price target for the company. in a report on Tuesday, April 11th. HC Wainwright restated a “buy” rating and issued a $9.00 price target (down from $20.00) on shares of OncoMed Pharmaceuticals in a report on Tuesday, April 11th. Jefferies Group LLC restated a “buy” rating and issued a $10.00 price target (down from $15.00) on shares of OncoMed Pharmaceuticals in a report on Tuesday, April 11th. Zacks Investment Research cut shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Finally, Cantor Fitzgerald cut shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $6.00 in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. OncoMed Pharmaceuticals has an average rating of “Hold” and an average price target of $8.00.
OncoMed Pharmaceuticals (OMED) opened at 3.86 on Monday. The firm’s market cap is $143.26 million. OncoMed Pharmaceuticals has a 1-year low of $2.94 and a 1-year high of $12.71. The company has a 50 day moving average price of $3.52 and a 200 day moving average price of $5.87.
In related news, Director Perry A. Karsen acquired 10,000 shares of the stock in a transaction on Monday, June 5th. The shares were acquired at an average price of $3.46 per share, with a total value of $34,600.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $34,600. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack W. Lasersohn acquired 34,614 shares of the stock in a transaction on Thursday, May 25th. The stock was bought at an average cost of $3.37 per share, for a total transaction of $116,649.18. Following the transaction, the director now owns 185,709 shares of the company’s stock, valued at approximately $625,839.33. The disclosure for this purchase can be found here. Insiders have purchased 88,121 shares of company stock worth $304,289 over the last three months. 32.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in shares of OncoMed Pharmaceuticals by 9.0% in the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 905 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of OncoMed Pharmaceuticals during the first quarter valued at approximately $103,000. Russell Investments Group Ltd. purchased a new position in shares of OncoMed Pharmaceuticals during the first quarter valued at approximately $141,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of OncoMed Pharmaceuticals during the first quarter valued at approximately $160,000. Finally, Teachers Advisors LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 44.32% of the company’s stock.
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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