Olema Pharmaceuticals (NASDAQ:OLMA) Issues Quarterly Earnings Results

Key Points

• Olema Pharmaceuticals reported a loss of $0.51 earnings per share for the quarter, missing analysts’ expectations of $0.44 by $0.07.
• Despite the earnings miss, research firms maintain a mostly positive outlook with HC Wainwright setting a target price of $30.00 and multiple firms issuing "buy" or "outperform" ratings.
• Institutional investors hold 91.78% of Olema Pharmaceuticals' stock, with significant increases in stakes from firms like Goldman Sachs and Jane Street Group in recent quarters.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08), Zacks reports.

Olema Pharmaceuticals Trading Down 1.5%

OLMA opened at $4.57 on Tuesday. The stock has a market cap of $312.68 million, a PE ratio of -2.27 and a beta of 1.92. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $13.93. The stock's 50 day simple moving average is $4.56 and its 200-day simple moving average is $4.64.

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning bought a new stake in shares of Olema Pharmaceuticals during the second quarter valued at approximately $83,000. AQR Capital Management LLC bought a new stake in shares of Olema Pharmaceuticals during the first quarter valued at approximately $172,000. Jane Street Group LLC increased its position 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 valued at $521,000 after purchasing an additional 94,815 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Olema Pharmaceuticals by 93.6% during 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. Finally, Geode Capital Management LLC increased its position 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 valued at $5,650,000 after purchasing an additional 242,997 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OLMA has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Monday, April 28th. Oppenheimer dropped their price target on Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group dropped their price target on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th.

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.