Olema Pharmaceuticals (NASDAQ:OLMA) Releases Quarterly Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) released its quarterly earnings results on Tuesday. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.09), FiscalAI reports.

Here are the key takeaways from Olema Pharmaceuticals’ conference call:

• OPERA-01 is the company’s near-term catalyst: Olema expects top-line results in Q1 next year from its Phase III trial of palazestrant after CDK4/6 inhibitor treatment. Management highlighted Phase II PFS results in both ESR1-mutant and wild-type patients, but whether these results are replicated in Phase III remains uncertain.
• OPERA-02’s size and timing remain uncertain. The first-line trial testing palazestrant with Kisqali is enrolling well, but Olema may add patients if upcoming SERENA-4 results suggest the control arm is performing better than historical benchmarks; the company has not provided a readout timeline.
• Olema is advancing its KAT6 inhibitor program with combination studies in breast cancer and a planned prostate cancer combination with NUBEQA. Management reported monotherapy activity and said early fulvestrant-combination data will be presented at San Antonio, while noting dose selection and tolerability still need to be established.
• Olema reported about $414 million in cash and said its runway extends into 2028, supporting its ongoing Phase III trials and current OP-3136 work. If OPERA-01 succeeds, the company intends to seek U.S. approval and launch on its own, while pursuing a partner for markets outside the U.S.

Olema Pharmaceuticals Trading Down 0.4%

Shares of Olema Pharmaceuticals stock traded down $0.03 during trading hours on Tuesday, reaching $7.33. The stock had a trading volume of 227,692 shares, compared to its average volume of 1,368,654. The firm has a 50 day simple moving average of $8.43 and a two-hundred day simple moving average of $13.55. The firm has a market capitalization of $641.38 million, a price-to-earnings ratio of -3.46 and a beta of 2.12. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 1 year low of $6.24 and a 1 year high of $36.26.

Wall Street Analysts Forecast Growth

OLMA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Stifel Nicolaus dropped their target price on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, September 14th. Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Finally, Citigroup decreased their price target on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address cancer biology and resistance mechanisms that can limit the effectiveness of existing endocrine therapies.

Olema’s lead product candidate is palazestrant, an oral selective estrogen receptor degrader (SERD) being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer.