Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Expected to Post Q3 2024 Earnings of ($0.52) Per Share

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Lifesci Capital issued their Q3 2024 earnings per share (EPS) estimates for shares of Olema Pharmaceuticals in a research report issued on Wednesday, May 8th. Lifesci Capital analyst S. Slutsky anticipates that the company will post earnings per share of ($0.52) for the quarter. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.34) per share.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.49).

A number of other brokerages also recently commented on OLMA. Capital One Financial reiterated an “overweight” rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd. Citigroup began coverage on Olema Pharmaceuticals in a research note on Tuesday, January 30th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price for the company. Finally, HC Wainwright lifted their price target on Olema Pharmaceuticals from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.43.

Olema Pharmaceuticals Stock Down 9.3 %

OLMA opened at $9.84 on Friday. The business’s fifty day simple moving average is $11.34 and its 200 day simple moving average is $12.83. Olema Pharmaceuticals has a 52 week low of $5.02 and a 52 week high of $17.79. The firm has a market cap of $550.35 million, a P/E ratio of -4.56 and a beta of 2.10.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.41, for a total value of $310,250.00. Following the transaction, the director now directly owns 846,283 shares of the company’s stock, valued at $10,502,372.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 65,000 shares of company stock worth $726,900 over the last ninety days. 23.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in Olema Pharmaceuticals in the 3rd quarter worth $35,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter worth about $89,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at about $130,000. SG Americas Securities LLC acquired a new stake in Olema Pharmaceuticals during the 3rd quarter valued at approximately $142,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Olema Pharmaceuticals during the 3rd quarter worth approximately $164,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.