Zacks: Analysts Anticipate Oncomed Pharmaceuticals Inc (OMED) Will Announce Quarterly Sales of $5.10 Million

Wall Street analysts expect Oncomed Pharmaceuticals Inc (NASDAQ:OMED) to announce sales of $5.10 million for the current quarter, according to Zacks. Three analysts have made estimates for Oncomed Pharmaceuticals’ earnings. The highest sales estimate is $5.11 million and the lowest is $5.10 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 business is expected to announce its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that Oncomed Pharmaceuticals will report full-year sales of $5.10 million for the current fiscal year, with estimates ranging from $22.50 million to $24.00 million. For the next fiscal year, analysts forecast that the company will report 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 an average based on a survey of sell-side analysts that that provide coverage for Oncomed Pharmaceuticals.

OMED has been the subject of a number of analyst reports. Zacks Investment Research lowered Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Cantor Fitzgerald set a $6.00 price target on Oncomed Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $5.81.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC purchased a new stake in Oncomed Pharmaceuticals in the 3rd quarter valued at $4,693,000. Vanguard Group Inc. raised its position in Oncomed Pharmaceuticals by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 995,646 shares of the biopharmaceutical company’s stock valued at $3,315,000 after buying an additional 50,161 shares during the last quarter. Ameriprise Financial Inc. raised its position in Oncomed Pharmaceuticals by 42.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 966,995 shares of the biopharmaceutical company’s stock valued at $3,221,000 after buying an additional 286,545 shares during the last quarter. Renaissance Technologies LLC raised its position in Oncomed Pharmaceuticals by 28.6% in the 4th quarter. Renaissance Technologies LLC now owns 529,300 shares of the biopharmaceutical company’s stock valued at $2,170,000 after buying an additional 117,700 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Oncomed Pharmaceuticals by 72.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 370,000 shares of the biopharmaceutical company’s stock valued at $1,672,000 after purchasing an additional 156,000 shares during the last quarter. 39.53% of the stock is owned by institutional investors and hedge funds.

Oncomed Pharmaceuticals (NASDAQ:OMED) opened at $2.06 on Wednesday. Oncomed Pharmaceuticals has a twelve month low of $1.74 and a twelve month high of $10.89. The stock has a market capitalization of $77.98, a price-to-earnings ratio of -1.08 and a beta of 2.23.

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

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