OncoMed Pharmaceuticals, Inc. (OMED) Releases Earnings Results, Beats Estimates By $0.13 EPS
OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.13, Briefing.com reports. The company had revenue of $5.11 million during the quarter, compared to the consensus estimate of $6.25 million. During the same quarter in the previous year, the business posted ($0.77) EPS. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis.
OncoMed Pharmaceuticals (OMED) traded up $0.32 during trading on Friday, reaching $4.51. The company’s stock had a trading volume of 127,106 shares, compared to its average volume of 146,811. OncoMed Pharmaceuticals has a 1 year low of $2.91 and a 1 year high of $10.89.
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A number of research analysts recently commented on the company. Piper Jaffray Companies set a $5.00 price target on OncoMed Pharmaceuticals and gave the stock a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating and issued a $5.00 price target on shares of OncoMed Pharmaceuticals in a research report on Thursday, September 28th. Cantor Fitzgerald reiterated a “hold” rating and issued a $6.00 target price on shares of OncoMed Pharmaceuticals in a research report on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $4.00 target price on shares of OncoMed Pharmaceuticals in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded OncoMed Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.84.
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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