OncoMed Pharmaceuticals, Inc. (OMED) Expected to Announce Earnings of -$0.31 Per Share

Wall Street brokerages predict that OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) will report earnings per share (EPS) of ($0.31) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for OncoMed Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.27). OncoMed Pharmaceuticals reported earnings per share of ($0.64) during the same quarter last year, which indicates a positive year over year growth rate of 51.6%. The business is expected to issue its next earnings results on Wednesday, March 14th.

According to Zacks, analysts expect that OncoMed Pharmaceuticals will report full year earnings of ($1.62) per share for the current financial year, with EPS estimates ranging from ($1.70) to ($1.57). For the next financial year, analysts expect that the company will report earnings of ($1.36) per share, with EPS estimates ranging from ($1.69) to ($1.10). Zacks Investment Research’s earnings per share averages 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 quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.13. The company had revenue of $5.11 million during the quarter, compared to the consensus estimate of $6.25 million. OncoMed Pharmaceuticals’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.77) EPS.

OMED has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $4.00 target price on shares of OncoMed Pharmaceuticals in a report on Friday, October 6th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $6.00 target price on shares of OncoMed Pharmaceuticals in a report on Tuesday, September 19th. Finally, Jefferies Group LLC set a $5.00 target price on shares of OncoMed Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. OncoMed Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $5.94.

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Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. grew its holdings in shares of OncoMed Pharmaceuticals by 9.0% during the 1st quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 905 shares during the last quarter. KCG Holdings Inc. purchased a new stake in OncoMed Pharmaceuticals during the 1st quarter valued at $103,000. Metropolitan Life Insurance Co. NY purchased a new stake in OncoMed Pharmaceuticals during the 1st quarter valued at $160,000. Hodges Capital Management Inc. boosted its position in OncoMed Pharmaceuticals by 155.9% during the 3rd quarter. Hodges Capital Management Inc. now owns 25,592 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 15,592 shares during the period. Finally, Swiss National Bank boosted its position in OncoMed Pharmaceuticals by 22.1% during the 1st quarter. Swiss National Bank now owns 33,200 shares of the biopharmaceutical company’s stock valued at $306,000 after buying an additional 6,000 shares during the period. 51.68% of the stock is currently owned by institutional investors.

Shares of OncoMed Pharmaceuticals (OMED) traded down $0.06 during trading hours on Friday, hitting $5.21. 166,347 shares of the stock were exchanged, compared to its average volume of 157,733. OncoMed Pharmaceuticals has a 1 year low of $2.91 and a 1 year high of $10.89.

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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