$5.10 Million in Sales Expected for Oncomed Pharmaceuticals Inc (OMED) This Quarter

Wall Street analysts expect Oncomed Pharmaceuticals Inc (NASDAQ:OMED) to announce $5.10 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Oncomed Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $5.10 million and the highest estimate coming in at $5.11 million. Oncomed Pharmaceuticals posted sales of $6.22 million in the same quarter last year, which suggests a negative year-over-year growth rate of 18%. The firm is expected to issue its next earnings results on Wednesday, March 14th.

On average, analysts expect that Oncomed Pharmaceuticals will report full-year sales of $5.10 million for the current financial year, with estimates ranging from $22.50 million to $24.00 million. For the next year, analysts forecast that the business will report sales of $22.29 million per share, with estimates ranging from $20.00 million to $25.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Oncomed Pharmaceuticals.

Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.13. The company had revenue of $5.11 million for the quarter, compared to analysts’ expectations of $6.25 million. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.77) earnings per share.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. SunTrust Banks reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Oncomed Pharmaceuticals in a research note on Friday, October 6th. Finally, Cantor Fitzgerald set a $6.00 price objective on shares of Oncomed Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.81.

Shares of Oncomed Pharmaceuticals (NASDAQ OMED) traded down $0.12 on Friday, hitting $2.42. 179,505 shares of the stock were exchanged, compared to its average volume of 248,753. The stock has a market capitalization of $99.94, a price-to-earnings ratio of -1.28 and a beta of 2.80. Oncomed Pharmaceuticals has a 1 year low of $2.38 and a 1 year high of $10.89.

Large investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC bought a new position in Oncomed Pharmaceuticals in the third quarter worth about $4,693,000. Candriam Luxembourg S.C.A. raised its holdings in Oncomed Pharmaceuticals by 72.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 370,000 shares of the biopharmaceutical company’s stock worth $1,672,000 after purchasing an additional 156,000 shares in the last quarter. Hodges Capital Management Inc. raised its holdings in Oncomed Pharmaceuticals by 155.9% in the third quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 15,592 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Oncomed Pharmaceuticals by 1.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 329,100 shares of the biopharmaceutical company’s stock worth $1,096,000 after purchasing an additional 4,750 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Oncomed Pharmaceuticals by 143.0% in the second quarter. Goldman Sachs Group Inc. now owns 170,439 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 100,309 shares in the last quarter. 39.37% of the stock is owned by institutional investors.

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About Oncomed Pharmaceuticals

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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