Q3 2016 Earnings Estimate for OncoMed Pharmaceuticals Inc. Issued By Leerink Swann (OMED)
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) – Research analysts at Leerink Swann raised their Q3 2016 earnings estimates for OncoMed Pharmaceuticals in a report released on Monday. Leerink Swann analyst P. Matteis now anticipates that the firm will post earnings of ($0.69) per share for the quarter, up from their previous forecast of ($0.86). Leerink Swann has a “Market Perform” rating and a $13.00 price target on the stock. Leerink Swann also issued estimates for OncoMed Pharmaceuticals’ Q4 2016 earnings at ($0.73) EPS, FY2016 earnings at ($3.23) EPS and FY2017 earnings at ($1.68) EPS.
Several other analysts also recently issued reports on the company. Cantor Fitzgerald reiterated a “buy” rating and set a $16.00 price target on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Group upped their price target on OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, HC Wainwright initiated coverage on OncoMed Pharmaceuticals in a research note on Thursday, September 22nd. They set a “buy” rating and a $20.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. OncoMed Pharmaceuticals has an average rating of “Buy” and a consensus price target of $19.38.
Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.13 on Wednesday. The stock has a 50 day moving average price of $11.09 and a 200-day moving average price of $11.79. OncoMed Pharmaceuticals has a one year low of $8.42 and a one year high of $23.98. The company’s market capitalization is $310.70 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.81) by $0.10. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The firm earned $6.67 million during the quarter, compared to the consensus estimate of $8.09 million. During the same quarter last year, the firm posted ($0.72) earnings per share. OncoMed Pharmaceuticals’s revenue was up 42.2% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in OMED. California State Teachers Retirement System increased its stake in shares of OncoMed Pharmaceuticals by 2.6% in the second quarter. California State Teachers Retirement System now owns 36,733 shares of the biopharmaceutical company’s stock valued at $452,000 after buying an additional 926 shares during the last quarter. Bank of New York Mellon Corp boosted its position in OncoMed Pharmaceuticals by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 89,819 shares of the biopharmaceutical company’s stock valued at $1,106,000 after buying an additional 4,226 shares during the period. Alps Advisors Inc. boosted its position in OncoMed Pharmaceuticals by 25.7% in the second quarter. Alps Advisors Inc. now owns 42,562 shares of the biopharmaceutical company’s stock valued at $524,000 after buying an additional 8,701 shares during the period. Candriam Luxembourg S.C.A. boosted its position in OncoMed Pharmaceuticals by 59.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 167,000 shares of the biopharmaceutical company’s stock valued at $2,056,000 after buying an additional 62,000 shares during the period. Finally, Strs Ohio boosted its position in OncoMed Pharmaceuticals by 124.3% in the second quarter. Strs Ohio now owns 24,000 shares of the biopharmaceutical company’s stock valued at $295,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 30.66% of the company’s stock.
OncoMed Pharmaceuticals Company Profile
OncoMed Pharmaceuticals, Inc (OncoMed) is a clinical development-stage biopharmaceutical company. The Company focuses on discovering and developing anti-cancer stem cell (CSC) and immuno-oncology therapeutics. The Company’s product 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), Anti-DLL4/VEGF Bispecific (OMP-305B83), Anti-RSPO3 (OMP-131R10) and GITRL-Fc.
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