Research Analysts Set Expectations for Oncomed Pharmaceuticals Inc’s FY2017 Earnings (OMED)

Oncomed Pharmaceuticals Inc (NASDAQ:OMED) – Cantor Fitzgerald raised their FY2017 earnings estimates for shares of Oncomed Pharmaceuticals in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst M. Goldstein now expects that the biopharmaceutical company will post earnings of ($1.72) per share for the year, up from their previous forecast of ($2.37). Cantor Fitzgerald has a “Neutral” rating and a $6.00 price objective on the stock.

A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. JMP Securities lowered shares of Oncomed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday. BMO Capital Markets reaffirmed a “buy” rating and set a $18.00 price objective on shares of Oncomed Pharmaceuticals in a research note on Tuesday, March 14th. Piper Jaffray Companies lowered shares of Oncomed Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $5.00 in a research note on Monday. Finally, Leerink Swann upped their price objective on shares of Oncomed Pharmaceuticals from $6.00 to $10.00 and gave the company a “market perform” rating in a research note on Tuesday, April 11th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.44.

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

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Shares of Oncomed Pharmaceuticals (NASDAQ:OMED) traded down 1.84% during mid-day trading on Thursday, hitting $3.73. 345,644 shares of the company traded hands. The firm has a 50-day moving average price of $8.25 and a 200 day moving average price of $8.72. Oncomed Pharmaceuticals has a 52-week low of $3.70 and a 52-week high of $15.49. The firm’s market cap is $139.49 million.

Oncomed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Wednesday, March 8th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.08. Oncomed Pharmaceuticals had a negative net margin of 409.54% and a negative return on equity of 1,307.23%. The firm earned $6.22 million during the quarter, compared to analysts’ expectations of $6.57 million. During the same quarter last year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year.

Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in Oncomed Pharmaceuticals by 10.8% in the fourth quarter. Teachers Advisors LLC now owns 30,423 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 2,961 shares in the last quarter. Alps Advisors Inc. increased its position in Oncomed Pharmaceuticals by 7.5% in the third quarter. Alps Advisors Inc. now owns 45,747 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 3,185 shares in the last quarter. Wells Fargo & Company MN increased its position in Oncomed Pharmaceuticals by 292.3% in the third quarter. Wells Fargo & Company MN now owns 49,536 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 36,910 shares in the last quarter. Norges Bank purchased a new position in Oncomed Pharmaceuticals during the fourth quarter worth approximately $1,406,000. Finally, Disciplined Growth Investors Inc. MN increased its position in Oncomed Pharmaceuticals by 8.6% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 326,900 shares of the biopharmaceutical company’s stock worth $2,520,000 after buying an additional 25,975 shares in the last quarter. Hedge funds and other institutional investors own 42.24% of the company’s stock.

In related news, CEO Paul J. Hastings sold 6,473 shares of the stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total value of $58,645.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sunil Patel sold 5,754 shares of the stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $9.06, for a total value of $52,131.24. The disclosure for this sale can be found here. Insiders sold 16,543 shares of company stock valued at $149,880 over the last three months. 41.25% of the stock is owned by insiders.

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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