Oncomed Pharmaceuticals (NASDAQ:OMED) released its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.36, Fidelity Earnings reports. The company had revenue of $19.52 million for the quarter, compared to analyst estimates of $7.97 million.
NASDAQ OMED traded up $0.08 during trading hours on Friday, hitting $1.85. 165,137 shares of the company’s stock traded hands, compared to its average volume of 143,507. Oncomed Pharmaceuticals has a 52-week low of $1.52 and a 52-week high of $5.56. The stock has a market cap of $64.49 million, a PE ratio of -1.78 and a beta of 1.76.
Several research firms recently weighed in on OMED. HC Wainwright reduced their price target on shares of Oncomed Pharmaceuticals from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, September 21st. Zacks Investment Research downgraded shares of Oncomed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th.
About Oncomed Pharmaceuticals
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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