$6.51 Million in Sales Expected for OncoMed Pharmaceuticals, Inc. (OMED) This Quarter

Equities analysts expect that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will announce $6.51 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for OncoMed Pharmaceuticals’ earnings. The lowest sales estimate is $5.00 million and the highest is $9.44 million. OncoMed Pharmaceuticals reported sales of $6.21 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is expected to announce its next earnings report on Monday, May 14th.

According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full-year sales of $25.63 million for the current financial year, with estimates ranging from $20.00 million to $37.10 million. For the next financial 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 calculations are an average based on a survey of analysts that follow OncoMed Pharmaceuticals.

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OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.59. The business had revenue of $20.64 million for the quarter, compared to analysts’ expectations of $5.10 million.

A number of brokerages recently weighed in on OMED. Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Wednesday, March 14th. HC Wainwright reaffirmed a “hold” rating and set a $3.00 price target on shares of OncoMed Pharmaceuticals in a research report on Friday, March 9th. Finally, Cantor Fitzgerald set a $6.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. OncoMed Pharmaceuticals has an average rating of “Hold” and an average target price of $4.42.

A number of hedge funds have recently modified their holdings of OMED. BlueCrest Capital Management Ltd acquired a new position in OncoMed Pharmaceuticals in the 4th quarter worth $133,000. Paloma Partners Management Co acquired a new position in OncoMed Pharmaceuticals in the 4th quarter worth $135,000. Virtu Financial LLC acquired a new position in OncoMed Pharmaceuticals in the 4th quarter worth $170,000. Goldman Sachs Group Inc. lifted its holdings in OncoMed Pharmaceuticals by 89.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 52,106 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 24,653 shares in the last quarter. Finally, Spark Investment Management LLC acquired a new position in OncoMed Pharmaceuticals in the 4th quarter worth $228,000. Hedge funds and other institutional investors own 53.47% of the company’s stock.

OncoMed Pharmaceuticals stock traded up $0.04 during trading on Friday, reaching $3.25. 43,883 shares of the company’s stock were exchanged, compared to its average volume of 218,466. OncoMed Pharmaceuticals has a 52-week low of $1.74 and a 52-week high of $5.56. The stock has a market cap of $125.87, a price-to-earnings ratio of -3.13 and a beta of 1.82.

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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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Earnings History and Estimates for OncoMed Pharmaceuticals (NASDAQ:OMED)

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