Zacks: Analysts Anticipate OncoMed Pharmaceuticals, Inc. (OMED) Will Announce Quarterly Sales of $6.25 Million
Equities analysts forecast that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will announce $6.25 million in sales for the current quarter, Zacks Investment Research reports. 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 $5.92 million in the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that OncoMed Pharmaceuticals will report full-year sales of $6.25 million for the current financial year, with estimates ranging from $12.41 million to $25.00 million. For the next fiscal year, analysts forecast that the company will post sales of $30.75 million per share, with estimates ranging from $24.80 million to $48.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.10. The company had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.08 million. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.91) earnings per share.
A number of research analysts have commented on the stock. Piper Jaffray Companies set a $5.00 target price on shares of OncoMed Pharmaceuticals and gave the company a “hold” rating in a research report on Monday, July 10th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $6.00 target price on shares of OncoMed Pharmaceuticals in a research report on Tuesday, April 25th. ValuEngine cut shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. HC Wainwright decreased their target price on shares of OncoMed Pharmaceuticals from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of OncoMed Pharmaceuticals in a research report on Sunday, July 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.00.
OncoMed Pharmaceuticals (OMED) opened at 4.16 on Thursday. The company’s 50-day moving average is $3.57 and its 200 day moving average is $5.58. The stock’s market capitalization is $156.54 million. OncoMed Pharmaceuticals has a 1-year low of $2.91 and a 1-year high of $12.58.
In other OncoMed Pharmaceuticals news, Director Jack W. Lasersohn purchased 20,000 shares of OncoMed Pharmaceuticals stock in a transaction dated Tuesday, May 23rd. The shares were acquired at an average price of $3.55 per share, with a total value of $71,000.00. Following the completion of the transaction, the director now owns 151,095 shares of the company’s stock, valued at $536,387.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jack W. Lasersohn purchased 34,614 shares of OncoMed Pharmaceuticals stock in a transaction dated Thursday, May 25th. The shares were acquired at an average cost of $3.37 per share, for a total transaction of $116,649.18. Following the transaction, the director now directly 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 bought 64,614 shares of company stock worth $222,249 in the last three months. Corporate insiders own 32.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of 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 in the last quarter. Piermont Capital Management Inc. acquired a new stake in shares of OncoMed Pharmaceuticals during the first quarter valued at about $481,000. Candriam Luxembourg S.C.A. boosted its stake in shares of OncoMed Pharmaceuticals by 3.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 214,000 shares of the biopharmaceutical company’s stock valued at $1,971,000 after buying an additional 7,000 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of OncoMed Pharmaceuticals by 5.9% in the first quarter. Primecap Management Co. CA now owns 1,906,600 shares of the biopharmaceutical company’s stock valued at $17,560,000 after buying an additional 105,900 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of OncoMed Pharmaceuticals during the first quarter valued at about $6,266,000. 44.18% of the stock is currently owned by institutional investors and hedge funds.
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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