Wall Street brokerages expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to post earnings of ($0.38) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for OncoMed Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.56) and the highest estimate coming in at ($0.32). OncoMed Pharmaceuticals posted earnings per share of ($0.77) during the same quarter last year, which would indicate a positive year-over-year growth rate of 50.6%. The company is expected to announce its next earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full year earnings of ($1.81) per share for the current fiscal year, with EPS estimates ranging from ($2.06) to ($1.66). For the next financial year, analysts expect that the business will post earnings of ($1.47) per share, with EPS estimates ranging from ($1.80) to ($0.64). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for OncoMed Pharmaceuticals.

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 business had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.08 million. During the same period in the previous year, the firm posted ($0.91) earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year.

OMED has been the subject of a number of recent research reports. Cantor Fitzgerald cut shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $16.00 to $6.00 in a report on Monday, April 17th. Piper Jaffray Companies cut shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $5.00 in a report on Monday, April 17th. SunTrust Banks, Inc. cut shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, April 17th. JMP Securities cut shares of OncoMed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday, April 17th. Finally, HC Wainwright decreased their price target on shares of OncoMed Pharmaceuticals from $9.00 to $6.00 and set a “buy” rating for the company in a report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. OncoMed Pharmaceuticals has an average rating of “Hold” and an average target price of $8.00.

In related news, Director Jonathan D. Root sold 13,880 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $3.71, for a total value of $51,494.80. Following the completion of the sale, the director now owns 121,020 shares in the company, valued at $448,984.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Perry A. Karsen bought 10,000 shares of OncoMed Pharmaceuticals stock in a transaction that occurred on Monday, June 5th. The stock was bought at an average price of $3.46 per share, with a total value of $34,600.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $34,600. The disclosure for this purchase can be found here. Insiders have acquired 64,614 shares of company stock valued at $222,249 over the last 90 days. Corporate insiders own 32.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its stake in 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 during the last quarter. Teachers Advisors LLC boosted its stake 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. 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 last quarter. Bank of New York Mellon Corp boosted its stake in OncoMed Pharmaceuticals by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 109,273 shares of the biopharmaceutical company’s stock valued at $1,007,000 after buying an additional 5,305 shares during the last quarter. Finally, Swiss National Bank boosted its stake in OncoMed Pharmaceuticals by 22.1% in the first quarter. Swiss National Bank now owns 33,200 shares of the biopharmaceutical company’s stock valued at $306,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 44.18% of the company’s stock.

Shares of OncoMed Pharmaceuticals (NASDAQ OMED) opened at 4.03 on Tuesday. The stock’s market capitalization is $151.65 million. OncoMed Pharmaceuticals has a 12 month low of $2.91 and a 12 month high of $12.58. The stock’s 50 day moving average price is $3.54 and its 200-day moving average price is $5.62.

ILLEGAL ACTIVITY NOTICE: “Analysts Anticipate OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to Announce -$0.38 EPS” was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2017/08/15/analysts-anticipate-oncomed-pharmaceuticals-inc-nasdaqomed-to-announce-0-38-eps.html.

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).

Get a free copy of the Zacks research report on OncoMed Pharmaceuticals (OMED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for OncoMed Pharmaceuticals (NASDAQ:OMED)

Receive News & Ratings for OncoMed Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OncoMed Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.