OncoMed Pharmaceuticals, Inc. (OMED) Posts Earnings Results, Beats Expectations By $0.13 EPS
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) released its earnings results on Thursday. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.13, Briefing.com reports. The firm had revenue of $5.11 million for the quarter, compared to the consensus estimate of $6.25 million. The company’s revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.77) EPS.
OncoMed Pharmaceuticals (NASDAQ OMED) traded up $0.32 during midday trading on Friday, reaching $4.51. The company had a trading volume of 127,106 shares, compared to its average volume of 151,777.
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A number of research firms have recently weighed in on OMED. Cantor Fitzgerald restated a “hold” rating and set a $6.00 target price on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $4.00 price objective on shares of OncoMed Pharmaceuticals in a report on Friday, October 6th. Jefferies Group LLC set a $5.00 price objective on OncoMed Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research downgraded OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Piper Jaffray Companies set a $5.00 price objective on OncoMed Pharmaceuticals and gave the company a “hold” rating in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $5.84.
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).
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