Analysts expect OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) to announce sales of $6.51 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for OncoMed Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $5.00 million and the highest estimate coming in at $9.44 million. OncoMed Pharmaceuticals posted sales of $6.21 million in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is scheduled to issue its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that OncoMed Pharmaceuticals will report full year sales of $6.51 million for the current financial year, with estimates ranging from $20.00 million to $37.10 million. For the next year, analysts forecast that the firm will post sales of $26.11 million per share, with estimates ranging from $25.00 million to $27.83 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.59. The firm had revenue of $20.64 million for the quarter, compared to analysts’ expectations of $5.10 million.
Several brokerages recently commented on OMED. HC Wainwright reiterated a “hold” rating and set a $3.00 price target on shares of OncoMed Pharmaceuticals in a research report on Friday, March 9th. Cantor Fitzgerald set a $6.00 target price on OncoMed Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.31.
Shares of OMED traded up $0.11 during trading hours on Friday, hitting $3.19. 21,229 shares of the stock were exchanged, compared to its average volume of 225,309. OncoMed Pharmaceuticals has a 12-month low of $1.74 and a 12-month high of $6.23. The stock has a market capitalization of $117.84, a price-to-earnings ratio of -2.96 and a beta of 1.81.
A number of large investors have recently modified their holdings of the business. Endurant Capital Management LP purchased a new stake in OncoMed Pharmaceuticals in the 4th quarter valued at $570,000. Crestline Management LP purchased a new position in shares of OncoMed Pharmaceuticals during the 4th quarter worth $753,000. Millennium Management LLC grew its holdings in shares of OncoMed Pharmaceuticals by 148.7% during the 4th quarter. Millennium Management LLC now owns 543,335 shares of the biopharmaceutical company’s stock worth $2,228,000 after purchasing an additional 324,845 shares during the period. Paloma Partners Management Co purchased a new position in shares of OncoMed Pharmaceuticals during the 4th quarter worth $135,000. Finally, Perceptive Advisors LLC grew its holdings in shares of OncoMed Pharmaceuticals by 152.4% during the 4th quarter. Perceptive Advisors LLC now owns 2,620,897 shares of the biopharmaceutical company’s stock worth $10,745,000 after purchasing an additional 1,582,608 shares during the period. Institutional investors own 53.47% of the company’s stock.
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About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals, Inc discovers and develops cancer stem cell (CSC) and immuno-oncology therapeutics. The company's product candidates and preclinical programs include demcizumab (anti-DLL4, OMP-21M18), a humanized monoclonal antibody, in Phase II trial for pancreatic cancer, a randomized Phase II trial in non-small cell lung cancer, and a Phase Ib trial for solid tumor; tarextumab (anti-Notch2/3, OMP-59R5) that targets the Notch2 and Notch3 receptors, which is in Phase II clinical trial for small cell lung cancer; vantictumab (anti-Fzd, OMP-18R5) in two Phase Ib clinical trials for breast and pancreatic cancer; ipafricept (Fzd8-Fc, OMP-54F28), a fusion protein based on Frizzled8 receptor, which is in two Phase Ib clinical trials for ovarian and pancreatic cancer; and navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets DLL4 and vascular endothelial growth factor, which is in Phase Ia single-agent clinical trial for solid tumors, and two Phase Ib clinical trial for ovarian and metastatic colorectal cancer.
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