Oncomed Pharmaceuticals Inc (OMED) Expected to Post Quarterly Sales of $7.91 Million

Equities research analysts expect that Oncomed Pharmaceuticals Inc (NASDAQ:OMED) will report $7.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Oncomed Pharmaceuticals’ earnings, with estimates ranging from $4.00 million to $11.82 million. Oncomed Pharmaceuticals posted sales of $20.64 million in the same quarter last year, which would indicate a negative year over year growth rate of 61.7%. The business is scheduled to report its next earnings results on Thursday, March 14th.

On average, analysts expect that Oncomed Pharmaceuticals will report full year sales of $41.43 million for the current year, with estimates ranging from $38.24 million to $46.06 million. For the next financial year, analysts expect that the business will post sales of $34.25 million, with estimates ranging from $25.00 million to $43.20 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Oncomed Pharmaceuticals.

Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.36. Oncomed Pharmaceuticals had a net margin of 10.98% and a return on equity of 25.81%. The firm had revenue of $19.52 million during the quarter, compared to analysts’ expectations of $7.97 million.

Several research firms recently issued reports on OMED. Zacks Investment Research raised shares of Oncomed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. HC Wainwright decreased their price target on shares of Oncomed Pharmaceuticals from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, September 21st. Finally, ValuEngine cut shares of Oncomed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in Oncomed Pharmaceuticals in the second quarter worth $186,000. Essex Investment Management Co. LLC acquired a new stake in shares of Oncomed Pharmaceuticals during the third quarter worth $205,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Oncomed Pharmaceuticals by 60.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,691 shares of the biopharmaceutical company’s stock worth $233,000 after acquiring an additional 38,091 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Oncomed Pharmaceuticals during the second quarter worth $254,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Oncomed Pharmaceuticals during the second quarter worth $320,000. 48.75% of the stock is currently owned by institutional investors and hedge funds.

OMED stock traded down $0.13 during mid-day trading on Tuesday, reaching $1.57. 109,066 shares of the stock traded hands, compared to its average volume of 283,035. Oncomed Pharmaceuticals has a 52 week low of $1.52 and a 52 week high of $5.56. The stock has a market capitalization of $65.29 million, a price-to-earnings ratio of -1.51 and a beta of 1.99.

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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