Q3 2016 Earnings Estimate for OncoMed Pharmaceuticals Inc. Issued By Leerink Swann (OMED)
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) – Investment analysts at Leerink Swann lifted their Q3 2016 EPS estimates for OncoMed Pharmaceuticals in a research note issued on Monday. Leerink Swann analyst P. Matteis now expects that the firm will post earnings of ($0.69) per share for the quarter, up from their previous forecast of ($0.86). Leerink Swann currently has a “Market Perform” rating and a $13.00 target price 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.
OncoMed Pharmaceuticals (NASDAQ:OMED) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) EPS for the quarter, missing the 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 had revenue of $6.67 million for the quarter, compared to analyst estimates of $8.09 million. During the same quarter in the prior year, the firm earned ($0.72) earnings per share. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis.
A number of other research firms have also recently issued reports on OMED. Cantor Fitzgerald restated a “buy” rating and issued a $16.00 price objective on shares of OncoMed Pharmaceuticals in a research report on Thursday, July 14th. Jefferies Group boosted their price objective on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, HC Wainwright started coverage on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 22nd. They issued a “buy” rating and a $20.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) opened at 10.13 on Wednesday. The firm’s 50-day moving average is $11.09 and its 200 day moving average is $11.79. The firm’s market capitalization is $310.70 million. OncoMed Pharmaceuticals has a 12 month low of $8.42 and a 12 month high of $23.98.
Large investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of OncoMed Pharmaceuticals by 0.4% in the second quarter. American International Group Inc. now owns 10,084 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 39 shares during the last quarter. Zacks Investment Management acquired a new stake in OncoMed Pharmaceuticals during the second quarter valued at approximately $138,000. Metropolitan Life Insurance Co. NY raised its stake in OncoMed Pharmaceuticals by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,959 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 90 shares during the last quarter. Bank of Montreal Can acquired a new stake in OncoMed Pharmaceuticals during the second quarter valued at approximately $162,000. Finally, Alliancebernstein L.P. acquired a new stake in OncoMed Pharmaceuticals during the second quarter valued at approximately $208,000. 30.66% of the stock is currently owned by hedge funds and other institutional investors.
About OncoMed Pharmaceuticals
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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