Olema Pharmaceuticals (NASDAQ:OLMA) Releases Earnings Results, Misses Estimates By $0.05 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) issued its quarterly earnings results on Monday. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05), Zacks reports.

Olema Pharmaceuticals Trading Up 2.3%

Shares of Olema Pharmaceuticals stock opened at $8.55 on Monday. The company has a 50-day moving average of $8.75 and a two-hundred day moving average of $6.20. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The stock has a market cap of $586.48 million, a PE ratio of -4.34 and a beta of 2.07. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $13.06.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 3,086 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total value of $25,675.52. Following the sale, the director owned 117,028 shares of the company’s stock, valued at approximately $973,672.96. This represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 25,000 shares of company stock valued at $204,841 in the last quarter. 16.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Olema Pharmaceuticals by 193.4% in the second quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock valued at $4,996,000 after buying an additional 773,064 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares during the period. Geode Capital Management LLC increased its position in Olema Pharmaceuticals by 22.4% in the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after buying an additional 242,997 shares during the period. Jane Street Group LLC lifted its position in Olema Pharmaceuticals by 216.8% in the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after purchasing an additional 94,815 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $308,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Citigroup lifted their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. boosted their target price on Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Olema Pharmaceuticals Company Profile

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.