Analysts expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to post $6.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for OncoMed Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $6.20 million and the highest estimate coming in at $6.30 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 company is expected to announce its next quarterly earnings results after the market closes on Thursday, November 2nd.

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 year, analysts anticipate that the firm 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 averages are an average based on a survey of research analysts that that provide coverage for OncoMed Pharmaceuticals.

OncoMed Pharmaceuticals (NASDAQ:OMED) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million during the quarter, compared to analyst estimates of $6.08 million. OncoMed Pharmaceuticals’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.91) EPS.

A number of research analysts recently weighed in on OMED shares. Jefferies Group LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of OncoMed Pharmaceuticals in a research note on Sunday, July 9th. Zacks Investment Research lowered shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $4.00 price objective on shares of OncoMed Pharmaceuticals in a research note on Friday, October 6th. Piper Jaffray Companies set a $5.00 price objective on shares of OncoMed Pharmaceuticals and gave the company a “hold” rating in a research note on Monday, July 10th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $6.00 price objective on shares of OncoMed Pharmaceuticals in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $5.84.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/31/analysts-expect-oncomed-pharmaceuticals-inc-omed-will-announce-quarterly-sales-of-6-25-million.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMED. American International Group Inc. grew its position in shares of OncoMed Pharmaceuticals by 9.0% during the 1st quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 905 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of OncoMed Pharmaceuticals during the 1st quarter valued at $103,000. Russell Investments Group Ltd. purchased a new position in shares of OncoMed Pharmaceuticals during the 1st quarter valued at $141,000. Citadel Advisors LLC grew its position in shares of OncoMed Pharmaceuticals by 289.8% during the 2nd quarter. Citadel Advisors LLC now owns 45,997 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 34,197 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new position in shares of OncoMed Pharmaceuticals during the 1st quarter valued at $160,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Shares of OncoMed Pharmaceuticals (NASDAQ OMED) traded up 1.58% during midday trading on Tuesday, hitting $3.85. The company had a trading volume of 9,474 shares. The company’s 50-day moving average price is $4.26 and its 200 day moving average price is $3.89. OncoMed Pharmaceuticals has a 12-month low of $2.91 and a 12-month high of $10.89. The company’s market capitalization is $144.88 million.

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).

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.