Oncomed Pharmaceuticals Inc (OMED) Expected to Post Quarterly Sales of $5.10 Million

Equities analysts expect that Oncomed Pharmaceuticals Inc (NASDAQ:OMED) will report $5.10 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Oncomed Pharmaceuticals’ earnings, with estimates ranging from $5.10 million to $5.11 million. Oncomed Pharmaceuticals reported sales of $6.22 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 18%. The firm is expected to report its next quarterly earnings results on Wednesday, March 14th.

On average, analysts expect that Oncomed Pharmaceuticals will report full year sales of $5.10 million for the current year, with estimates ranging from $22.50 million to $24.00 million. For the next fiscal year, analysts expect that the company will post sales of $22.29 million per share, with estimates ranging from $20.00 million to $25.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Oncomed Pharmaceuticals.

Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.13. The company had revenue of $5.11 million during the quarter, compared to the consensus estimate of $6.25 million. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.77) earnings per share.

A number of brokerages recently issued reports on OMED. Zacks Investment Research upgraded 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. SunTrust Banks restated a “hold” rating and issued a $4.00 price target on shares of Oncomed Pharmaceuticals in a research report on Friday, October 6th. Finally, Cantor Fitzgerald set a $6.00 price target on Oncomed Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday, January 4th. 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 company’s stock. The company has an average rating of “Hold” and an average price target of $5.81.

Several large investors have recently added to or reduced their stakes in OMED. Hodges Capital Management Inc. lifted its position in shares of Oncomed Pharmaceuticals by 155.9% during the third quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 15,592 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of 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 last quarter. JPMorgan Chase & Co. lifted its position in shares of Oncomed Pharmaceuticals by 1,426.7% during the second quarter. JPMorgan Chase & Co. now owns 83,345 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 77,886 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Oncomed Pharmaceuticals by 143.0% during the second quarter. Goldman Sachs Group Inc. now owns 170,439 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 100,309 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Oncomed Pharmaceuticals by 1.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 329,100 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 4,750 shares during the last quarter. Institutional investors and hedge funds own 39.37% of the company’s stock.

Shares of Oncomed Pharmaceuticals (OMED) opened at $2.85 on Friday. The stock has a market capitalization of $109.40, a price-to-earnings ratio of -1.51 and a beta of 2.80. Oncomed Pharmaceuticals has a 52-week low of $2.80 and a 52-week high of $10.89.

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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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Earnings History and Estimates for Oncomed Pharmaceuticals (NASDAQ:OMED)

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