Brokerages expect that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will announce earnings of ($0.23) per share for the current quarter, Zacks reports. Two analysts have made estimates for OncoMed Pharmaceuticals’ earnings, with estimates ranging from ($0.37) to ($0.13). OncoMed Pharmaceuticals posted earnings of ($0.40) per share during the same quarter last year, which indicates a positive year over year growth rate of 42.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 1st.
On average, analysts expect that OncoMed Pharmaceuticals will report full year earnings of ($0.83) per share for the current financial year, with EPS estimates ranging from ($1.25) to ($0.52). For the next year, analysts forecast that the firm will report earnings of ($1.00) per share, with EPS estimates ranging from ($1.50) to ($0.65). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.07. The firm had revenue of $7.85 million during the quarter, compared to analysts’ expectations of $7.27 million.
A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of OncoMed Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Wednesday, March 14th. Finally, HC Wainwright restated a “hold” rating and issued a $3.00 target price on shares of OncoMed Pharmaceuticals in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. OncoMed Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $4.42.
OncoMed Pharmaceuticals traded up $0.02, reaching $2.80, on Friday, Marketbeat Ratings reports. The stock had a trading volume of 91,093 shares, compared to its average volume of 187,121. The firm has a market cap of $107.61 million, a price-to-earnings ratio of -2.69 and a beta of 1.83. OncoMed Pharmaceuticals has a 12-month low of $1.74 and a 12-month high of $5.56.
Large investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd purchased a new position in shares of OncoMed Pharmaceuticals during the 4th quarter worth about $133,000. Paloma Partners Management Co purchased a new position in shares of OncoMed Pharmaceuticals during the 4th quarter worth about $135,000. Virtu Financial LLC purchased a new position in shares of OncoMed Pharmaceuticals during the 4th quarter worth about $170,000. DRW Securities LLC lifted its holdings in shares of OncoMed Pharmaceuticals by 291.1% during the 1st quarter. DRW Securities LLC now owns 53,740 shares of the biopharmaceutical company’s stock worth $171,000 after acquiring an additional 40,000 shares during the period. Finally, Sofinnova Ventures Inc purchased a new position in shares of OncoMed Pharmaceuticals during the 1st quarter worth about $213,000. Institutional investors own 49.52% of the company’s stock.
OncoMed Pharmaceuticals Company Profile
OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.
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