$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 made estimates for Oncomed Pharmaceuticals’ earnings. The lowest sales estimate is $5.10 million and the highest is $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 business is expected to issue its next 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 year, with estimates ranging from $20.00 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’ sales averages are an average based on a survey of analysts that follow 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, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.13. The company had revenue of $5.11 million during the quarter, compared to analyst estimates of $6.25 million. The business’s revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.77) EPS.

OMED has been the topic of several recent research reports. Cantor Fitzgerald restated a “hold” rating and issued a $6.00 price target on shares of Oncomed Pharmaceuticals in a research report on Tuesday, September 19th. Jefferies Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Oncomed Pharmaceuticals in a report on Thursday, September 28th. Zacks Investment Research raised Oncomed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Wednesday, October 4th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Oncomed Pharmaceuticals in a 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 assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.94.

Shares of Oncomed Pharmaceuticals (NASDAQ:OMED) traded up $0.02 during mid-day trading on Tuesday, reaching $3.68. The company had a trading volume of 164,545 shares, compared to its average volume of 279,751. The firm has a market cap of $138.55, a PE ratio of -1.94 and a beta of 2.80. Oncomed Pharmaceuticals has a 1 year low of $2.91 and a 1 year high of $10.89.

A number of institutional investors and hedge funds have recently made changes to their positions in OMED. Vanguard Group Inc. boosted its holdings in Oncomed Pharmaceuticals by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 945,485 shares of the biopharmaceutical company’s stock valued at $8,708,000 after purchasing an additional 45,494 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Oncomed Pharmaceuticals by 6.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 81,999 shares of the biopharmaceutical company’s stock worth $756,000 after acquiring an additional 4,617 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Oncomed Pharmaceuticals during the 1st quarter worth approximately $160,000. Marshall Wace North America L.P. purchased a new stake in shares of Oncomed Pharmaceuticals during the 2nd quarter worth approximately $561,000. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of Oncomed Pharmaceuticals by 23.1% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 407,741 shares of the biopharmaceutical company’s stock worth $1,358,000 after acquiring an additional 76,445 shares in the last quarter. 39.38% of the stock is currently owned by institutional investors.

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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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