Analysts Expect OncoMed Pharmaceuticals, Inc. (OMED) Will Announce Quarterly Sales of $6.25 Million
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.
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).
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