$5.10 Million in Sales Expected for OncoMed Pharmaceuticals, Inc. (OMED) This Quarter
Equities research analysts expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to report sales of $5.10 million for the current quarter, Zacks reports. Three analysts have issued estimates for OncoMed Pharmaceuticals’ earnings, with the highest sales estimate coming in at $5.11 million and the lowest estimate coming in at $5.10 million. OncoMed Pharmaceuticals posted sales of $6.22 million in the same quarter last year, which suggests a negative year-over-year growth rate of 18%. The business is scheduled to issue its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full year sales of $5.10 million for the current financial year, with estimates ranging from $20.00 million to $24.00 million. For the next year, analysts anticipate that the business will post sales of $22.29 million per share, with estimates ranging from $20.00 million to $25.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.13. The company had revenue of $5.11 million for the quarter, compared to the consensus estimate of $6.25 million. During the same period last year, the firm posted ($0.77) EPS. The company’s revenue was down 13.7% compared to the same quarter last year.
A number of brokerages recently issued reports on OMED. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 28th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $6.00 target price on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Wednesday, November 8th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $4.00 target price on shares of OncoMed Pharmaceuticals in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $5.94.
Several large investors have recently modified their holdings of OMED. American International Group Inc. boosted its stake in shares of OncoMed Pharmaceuticals by 9.0% in 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. acquired a new stake in shares of OncoMed Pharmaceuticals in the 1st quarter valued at $103,000. Hodges Capital Management Inc. boosted its stake in shares of OncoMed Pharmaceuticals by 155.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 15,592 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of OncoMed Pharmaceuticals by 289.8% in 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 acquired a new position in OncoMed Pharmaceuticals during the 1st quarter worth about $160,000. Institutional investors own 50.40% of the company’s stock.
OncoMed Pharmaceuticals (NASDAQ OMED) opened at $5.21 on Monday. OncoMed Pharmaceuticals has a 52-week low of $2.91 and a 52-week high of $10.89.
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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