Leerink Swann Analysts Lower Earnings Estimates for OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED)
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) – Investment analysts at Leerink Swann reduced their Q3 2017 earnings estimates for shares of OncoMed Pharmaceuticals in a research report issued to clients and investors on Wednesday. Leerink Swann analyst M. Schmidt now forecasts that the biopharmaceutical company will post earnings of ($0.32) per share for the quarter, down from their previous forecast of ($0.29). Leerink Swann has a “Market Perform” rating and a $10.00 price objective on the stock. Leerink Swann also issued estimates for OncoMed Pharmaceuticals’ Q4 2017 earnings at ($0.32) EPS, FY2017 earnings at ($1.66) EPS and FY2018 earnings at ($1.57) EPS.
OMED has been the topic of a number of other research reports. Piper Jaffray Companies downgraded shares of OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $5.00 in a research note on Monday, April 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of OncoMed Pharmaceuticals in a research note on Sunday, July 9th. Cantor Fitzgerald set a $6.00 price target on shares of OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target (down previously from $20.00) on shares of OncoMed Pharmaceuticals in a research note on Tuesday, April 11th. Finally, ValuEngine downgraded shares of OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. OncoMed Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $8.00.
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Shares of OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 3.91 on Monday. OncoMed Pharmaceuticals has a 12 month low of $2.94 and a 12 month high of $12.71. The firm has a 50-day moving average price of $3.52 and a 200-day moving average price of $5.87. The stock’s market cap is $145.12 million.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. The firm had revenue of $6.20 million during the quarter, compared to analysts’ expectations of $6.08 million. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.91) EPS.
In other OncoMed Pharmaceuticals news, Director Jack W. Lasersohn bought 34,614 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were acquired at an average price of $3.37 per share, with a total value of $116,649.18. Following the purchase, the director now owns 185,709 shares in the company, valued at approximately $625,839.33. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Perry A. Karsen bought 10,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was acquired at an average cost of $3.46 per share, for a total transaction of $34,600.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $34,600. The disclosure for this purchase can be found here. In the last three months, insiders bought 88,121 shares of company stock worth $304,289. Insiders own 32.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in OMED. American International Group Inc. raised its stake in OncoMed Pharmaceuticals by 9.0% in the first quarter. American International Group Inc. now owns 10,977 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 905 shares during the last quarter. KCG Holdings Inc. purchased a new stake in OncoMed Pharmaceuticals during the first quarter worth $103,000. Russell Investments Group Ltd. purchased a new stake in OncoMed Pharmaceuticals during the first quarter worth $141,000. Metropolitan Life Insurance Co. NY purchased a new stake in OncoMed Pharmaceuticals during the first quarter worth $160,000. Finally, LMR Partners LLP purchased a new stake in OncoMed Pharmaceuticals during the second quarter worth $201,000. 44.20% of the stock is owned by institutional investors and hedge funds.
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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