FY2017 EPS Estimates for OncoMed Pharmaceuticals, Inc. (OMED) Lifted by Cantor Fitzgerald
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) – Cantor Fitzgerald raised their FY2017 earnings per share (EPS) estimates for OncoMed Pharmaceuticals in a note issued to investors on Tuesday. Cantor Fitzgerald analyst M. Goldstein now forecasts that the biopharmaceutical company will post earnings per share of ($1.86) for the year, up from their prior forecast of ($1.99). Cantor Fitzgerald has a “Hold” rating and a $6.00 price objective on the stock. Cantor Fitzgerald also issued estimates for OncoMed Pharmaceuticals’ FY2018 earnings at ($1.80) EPS.
OMED has been the subject of a number of other reports. Zacks Investment Research downgraded OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, April 13th. ValuEngine downgraded OncoMed Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. downgraded OncoMed Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, April 17th. JMP Securities downgraded OncoMed Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, April 17th. Finally, Piper Jaffray Companies downgraded OncoMed Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $5.00 in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.00.
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OncoMed Pharmaceuticals (OMED) opened at 3.75 on Thursday. The firm’s market capitalization is $139.18 million. OncoMed Pharmaceuticals has a 52-week low of $2.91 and a 52-week high of $12.58. The stock’s 50 day moving average price is $3.53 and its 200 day moving average price is $5.72.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.10. The firm had revenue of $6.20 million for the quarter, compared to the consensus estimate of $6.08 million. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.91) earnings per share.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its stake in shares of OncoMed Pharmaceuticals by 312.7% in the first quarter. SG Americas Securities LLC now owns 58,626 shares of the biopharmaceutical company’s stock worth $540,000 after buying an additional 44,419 shares during the period. Trexquant Investment LP purchased a new stake in shares of OncoMed Pharmaceuticals during the first quarter worth approximately $372,000. Ameriprise Financial Inc. purchased a new stake in shares of OncoMed Pharmaceuticals during the first quarter worth approximately $6,266,000. Swiss National Bank boosted its stake in shares of OncoMed Pharmaceuticals by 22.1% in the first quarter. Swiss National Bank now owns 33,200 shares of the biopharmaceutical company’s stock worth $306,000 after buying an additional 6,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of OncoMed Pharmaceuticals by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 109,273 shares of the biopharmaceutical company’s stock worth $1,007,000 after buying an additional 5,305 shares during the period. 44.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jack W. Lasersohn acquired 20,000 shares of OncoMed Pharmaceuticals stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average price of $3.55 per share, with a total value of $71,000.00. Following the completion of the purchase, the director now owns 151,095 shares of the company’s stock, valued at approximately $536,387.25. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack W. Lasersohn acquired 23,507 shares of OncoMed Pharmaceuticals stock in a transaction on Tuesday, May 16th. The stock was purchased at an average cost of $3.49 per share, with a total value of $82,039.43. Following the purchase, the director now directly owns 131,095 shares of the company’s stock, valued at approximately $457,521.55. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 88,121 shares of company stock valued at $304,289. 32.80% of the stock is currently owned by corporate insiders.
OncoMed Pharmaceuticals Company Profile
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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