Equities research analysts predict that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will report earnings per share of ($0.24) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for OncoMed Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.37). OncoMed Pharmaceuticals posted earnings per share of ($0.61) in the same quarter last year, which suggests a positive year over year growth rate of 60.7%. The company is expected to announce its next quarterly earnings report on Monday, May 14th.
According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full-year earnings of ($0.96) per share for the current fiscal year, with EPS estimates ranging from ($1.41) to ($0.70). For the next year, analysts expect that the company will report earnings of ($1.13) per share, with EPS estimates ranging from ($1.86) to ($0.69). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow OncoMed Pharmaceuticals.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.59. The business had revenue of $20.64 million during the quarter, compared to the consensus estimate of $5.10 million.
Several equities research analysts recently weighed in on OMED shares. Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Thursday, January 4th. Cantor Fitzgerald set a $6.00 price target on OncoMed Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, January 4th. Finally, HC Wainwright restated a “hold” rating and set a $3.00 price target on shares of OncoMed Pharmaceuticals in a research report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.31.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in shares of OncoMed Pharmaceuticals by 89.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 52,106 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 24,653 shares in the last quarter. AXA boosted its holdings in OncoMed Pharmaceuticals by 29.5% in the fourth quarter. AXA now owns 131,785 shares of the biopharmaceutical company’s stock worth $540,000 after acquiring an additional 30,006 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in OncoMed Pharmaceuticals in the fourth quarter worth $133,000. Paloma Partners Management Co bought a new stake in OncoMed Pharmaceuticals in the fourth quarter worth $135,000. Finally, Two Sigma Investments LP boosted its holdings in OncoMed Pharmaceuticals by 154.0% in the fourth quarter. Two Sigma Investments LP now owns 61,365 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 37,205 shares in the last quarter. Institutional investors own 53.47% of the company’s stock.
Shares of OMED stock traded up $0.09 during trading hours on Wednesday, reaching $3.15. The company’s stock had a trading volume of 69,961 shares, compared to its average volume of 232,957. The firm has a market cap of $120.14, a P/E ratio of -3.03 and a beta of 1.82. OncoMed Pharmaceuticals has a one year low of $1.74 and a one year high of $9.23.
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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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