OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) – Stock analysts at Leerink Swann increased their Q3 2016 earnings per share (EPS) estimates for shares of OncoMed Pharmaceuticals in a note issued to investors 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 prior 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 posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by $0.10. The firm earned $6.67 million during the quarter, compared to analysts’ expectations of $8.09 million. OncoMed Pharmaceuticals had a negative net margin of 424.46% and a negative return on equity of 1,307.23%. The business’s quarterly revenue was up 42.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.72) earnings per share.
Other equities analysts have also issued research reports about the stock. HC Wainwright started coverage on shares of OncoMed Pharmaceuticals in a research note on Thursday, September 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Jefferies Group raised their price objective on shares of OncoMed Pharmaceuticals from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $16.00 price objective on shares of OncoMed Pharmaceuticals in a research note on Thursday, July 14th. Finally, Zacks Investment Research raised shares of OncoMed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $19.38.
OncoMed Pharmaceuticals (NASDAQ:OMED) traded down 2.11% during trading on Wednesday, reaching $10.20. 85,557 shares of the company’s stock were exchanged. The company’s market capitalization is $312.84 million. OncoMed Pharmaceuticals has a 1-year low of $8.42 and a 1-year high of $23.98. The company’s 50-day moving average is $11.10 and its 200-day moving average is $11.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Randolph Co Inc acquired a new position in OncoMed Pharmaceuticals during the third quarter worth $345,000. Schwab Charles Investment Management Inc. increased its position in OncoMed Pharmaceuticals by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,821 shares of the biopharmaceutical company’s stock worth $528,000 after buying an additional 588 shares in the last quarter. Iguana Healthcare Management LLC increased its position in OncoMed Pharmaceuticals by 11.5% in the second quarter. Iguana Healthcare Management LLC now owns 632,200 shares of the biopharmaceutical company’s stock worth $7,782,000 after buying an additional 65,175 shares in the last quarter. Zacks Investment Management acquired a new position in OncoMed Pharmaceuticals during the second quarter worth $138,000. Finally, State Street Corp increased its position in OncoMed Pharmaceuticals by 11.8% in the second quarter. State Street Corp now owns 264,839 shares of the biopharmaceutical company’s stock worth $3,261,000 after buying an additional 28,007 shares in the last quarter. Institutional investors and hedge funds 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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