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

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

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

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

Olema Pharmaceuticals Stock Performance

OLMA stock opened at $9.84 on Friday. The business’s 50-day moving average is $11.34 and its two-hundred day moving average is $12.83. The company has a market cap of $550.35 million, a price-to-earnings ratio of -4.56 and a beta of 2.10. Olema Pharmaceuticals has a fifty-two week low of $5.02 and a fifty-two week high of $17.79.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $10.97, for a total transaction of $219,400.00. Following the sale, the director now owns 826,283 shares in the company, valued at $9,064,324.51. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 65,000 shares of company stock valued at $726,900 over the last 90 days. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in Olema Pharmaceuticals during the third quarter valued at $35,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Olema Pharmaceuticals in the fourth quarter worth about $130,000. SG Americas Securities LLC purchased a new stake in Olema Pharmaceuticals during the third quarter valued at approximately $142,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Olema Pharmaceuticals in the 3rd quarter valued at approximately $164,000. 91.78% of the stock is owned by 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.