Analysts expect that Oncomed Pharmaceuticals Inc (NASDAQ:OMED) will post ($0.20) earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have provided estimates for Oncomed Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.37). Oncomed Pharmaceuticals posted earnings of ($0.28) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Oncomed Pharmaceuticals will report full-year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.44). For the next fiscal year, analysts forecast that the business will report earnings of ($0.86) per share, with EPS estimates ranging from ($1.53) to ($0.49). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Oncomed Pharmaceuticals.
Oncomed Pharmaceuticals (NASDAQ:OMED) last issued its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.13. The company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $7.49 million.
OMED has been the topic of several analyst reports. Zacks Investment Research cut Oncomed Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. HC Wainwright reduced their price objective on Oncomed Pharmaceuticals from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, September 21st.
Shares of NASDAQ OMED opened at $1.99 on Wednesday. Oncomed Pharmaceuticals has a 1-year low of $1.74 and a 1-year high of $5.56. The company has a market cap of $81.62 million, a price-to-earnings ratio of -1.91 and a beta of 1.76.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new stake in Oncomed Pharmaceuticals during the second quarter worth approximately $186,000. Alambic Investment Management L.P. bought a new position in shares of Oncomed Pharmaceuticals during the second quarter valued at approximately $254,000. Renaissance Technologies LLC grew its stake in shares of Oncomed Pharmaceuticals by 8.5% during the second quarter. Renaissance Technologies LLC now owns 757,400 shares of the biopharmaceutical company’s stock valued at $1,750,000 after buying an additional 59,300 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Oncomed Pharmaceuticals by 60.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,691 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 38,091 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Oncomed Pharmaceuticals during the second quarter valued at approximately $320,000. 48.55% of the stock is currently owned by institutional investors.
About Oncomed Pharmaceuticals
OncoMed Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel therapeutics that address the fundamental biology driving cancer's growth, resistance, recurrence, and metastasis. The company's product candidates and preclinical programs include navicixizumab (anti-DLL4/VEGF Bispecific, OMP-305B83), a monoclonal antibody that targets Delta-like ligand 4 and vascular endothelial growth factor, which has completed a single-agent Phase Ia clinical trial in patients with advanced solid tumors, as well as in two Phase Ib clinical trials for patients with platinum-resistant ovarian cancer and metastatic colorectal cancer; anti-TIGIT (OMP-313M32), a T-cell immunoreceptor with immunoglobulin and ITIM domain, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; GITRL-Fc (OMP-336B11), a glucocorticoid-induced tumor necrosis factor receptor -related protein and its ligand, which is in Phase Ia clinical trial for patients with advanced or metastatic solid tumors; and rosmantuzumab (anti-RSPO3, OMP-131R10), a monoclonal antibody targeting the RSPO-LGR CSC pathway.
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