Olema Pharmaceuticals (NASDAQ:OLMA) Issues Earnings Results, Beats Estimates By $0.01 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) issued its quarterly earnings data on Monday. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01, FiscalAI reports.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $14.71 on Monday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $36.26. The firm’s 50 day moving average is $24.18 and its two-hundred day moving average is $18.58. The firm has a market capitalization of $1.01 billion, a P/E ratio of -7.87 and a beta of 1.93.

Insider Transactions at Olema Pharmaceuticals

In related news, insider Naseem Zojwalla sold 99,509 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 4,488 shares of the company’s stock, valued at $124,138.08. This represents a 95.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 805,501 shares of company stock valued at $23,003,832 over the last quarter. 16.36% of the stock is owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Olema Pharmaceuticals during the 1st quarter worth approximately $172,000. Goldman Sachs Group Inc. increased its holdings in shares of Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after purchasing an additional 358,412 shares during the period. Jane Street Group LLC raised its stake in shares of Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after purchasing an additional 94,815 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after purchasing an additional 242,997 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Olema Pharmaceuticals during the second quarter worth $83,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

OLMA has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup increased their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Piper Sandler started coverage on shares of Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.