$6.25 Million in Sales Expected for OncoMed Pharmaceuticals, Inc. (OMED) This Quarter
Brokerages predict that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will report $6.25 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for OncoMed Pharmaceuticals’ earnings, with the highest sales estimate coming in at $6.30 million and the lowest estimate coming in at $6.20 million. OncoMed Pharmaceuticals posted sales of $5.92 million during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full year sales of $6.25 million for the current fiscal year, with estimates ranging from $12.41 million to $25.00 million. For the next year, analysts anticipate that the company will report sales of $30.75 million per share, with estimates ranging from $24.80 million to $48.20 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. The firm had revenue of $6.20 million during the quarter, compared to the consensus estimate of $6.08 million. During the same period last year, the business earned ($0.91) EPS. The business’s revenue was down 7.0% on a year-over-year basis.
Several equities analysts recently weighed in on the stock. SunTrust Banks, Inc. restated a “hold” rating and set a $4.00 price target on shares of OncoMed Pharmaceuticals in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Wednesday, October 4th. Jefferies Group LLC restated a “buy” rating and set a $5.00 price target on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 28th. Cantor Fitzgerald restated a “hold” rating and set a $6.00 price target on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. Finally, Piper Jaffray Companies set a $5.00 price target on shares of OncoMed Pharmaceuticals and gave the company a “hold” rating in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. OncoMed Pharmaceuticals has an average rating of “Hold” and a consensus price target of $5.84.
A number of large investors have recently modified their holdings of OMED. American International Group Inc. boosted its position in OncoMed Pharmaceuticals by 9.0% during the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 905 shares during the period. KCG Holdings Inc. bought a new position in OncoMed Pharmaceuticals during the first quarter worth about $103,000. Russell Investments Group Ltd. bought a new position in OncoMed Pharmaceuticals during the first quarter worth about $141,000. Citadel Advisors LLC boosted its position in OncoMed Pharmaceuticals by 289.8% during the second quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 34,197 shares during the period. Finally, Metropolitan Life Insurance Co. NY bought a new position in OncoMed Pharmaceuticals during the first quarter worth about $160,000. Hedge funds and other institutional investors own 51.72% of the company’s stock.
OncoMed Pharmaceuticals (NASDAQ OMED) opened at 4.24 on Wednesday. The company’s market cap is $159.55 million. The stock has a 50 day moving average of $4.52 and a 200-day moving average of $4.30. OncoMed Pharmaceuticals has a 12 month low of $2.91 and a 12 month high of $10.89.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.