HC Wainwright Has Negative Forecast for OLMA FY2029 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Analysts at HC Wainwright lowered their FY2029 earnings per share (EPS) estimates for Olema Pharmaceuticals in a note issued to investors on Monday, March 9th. HC Wainwright analyst E. Bodnar now expects that the company will earn ($1.58) per share for the year, down from their previous estimate of ($1.53). HC Wainwright currently has a “Buy” rating and a $38.00 target price on the stock. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.33) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ FY2030 earnings at ($0.83) EPS.

Several other research firms also recently issued reports on OLMA. JPMorgan Chase & Co. boosted their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Thursday, January 22nd. Citigroup boosted their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 12th. The Goldman Sachs Group raised their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA opened at $15.61 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $36.26. The company has a fifty day moving average price of $24.59 and a 200 day moving average price of $18.36. The stock has a market cap of $1.07 billion, a P/E ratio of -8.35 and a beta of 1.92.

Insiders Place Their Bets

In other news, insider David C. Myles sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $27.60, for a total value of $1,380,000.00. Following the sale, the insider directly owned 542,761 shares in the company, valued at approximately $14,980,203.60. This represents a 8.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Naseem Zojwalla sold 99,509 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $27.66, for a total value of $2,752,418.94. Following the completion of the transaction, the insider directly owned 4,488 shares of the company’s stock, valued at approximately $124,138.08. The trade was a 95.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 805,501 shares of company stock valued at $23,003,832 over the last 90 days. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors have recently bought and sold shares of OLMA. Bain Capital Life Sciences Investors LLC raised its stake in Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock worth $212,716,000 after acquiring an additional 1,664,687 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in shares of Olema Pharmaceuticals by 11.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock valued at $188,604,000 after purchasing an additional 750,000 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Olema Pharmaceuticals by 87.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock valued at $167,901,000 after purchasing an additional 3,124,345 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Olema Pharmaceuticals by 11.4% in the 4th quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company’s stock worth $89,034,000 after purchasing an additional 364,035 shares during the last quarter. Finally, Deep Track Capital LP increased its position in shares of Olema Pharmaceuticals by 0.8% during the 3rd quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock worth $33,973,000 after purchasing an additional 27,339 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.