Olema Pharmaceuticals (NASDAQ:OLMA) Releases Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Olema Pharmaceuticals reported a quarterly loss of $0.61 per share, missing analysts’ consensus estimate of a $0.53 loss by $0.08.
• Shares traded at about $11.94, while the company’s stock has ranged from $4.47 to $36.26 over the past year. Olema has a market capitalization of approximately $1.04 billion.
• Wall Street maintains a generally positive outlook, with 11 Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $44.10.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.08), FiscalAI reports.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded down $0.11 during mid-day trading on Monday, hitting $11.94. 679,190 shares of the stock traded hands, compared to its average volume of 1,430,767. The business's 50-day moving average price is $11.26 and its 200 day moving average price is $15.87. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.04 billion, a PE ratio of -5.91 and a beta of 2.03. Olema Pharmaceuticals has a 12-month low of $4.47 and a 12-month high of $36.26.

Wall Street Analyst Weigh In

OLMA has been the topic of a number of research reports. HC Wainwright restated a "buy" rating on shares of Olema Pharmaceuticals in a research note on Friday, May 22nd. Weiss Ratings lowered shares of Olema Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. Finally, Guggenheim lowered their target price on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $44.10.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the transaction, the director directly owned 715,270 shares of the company's stock, valued at $8,282,826.60. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth $262,000. Wealthspire Advisors LLC bought a new stake in Olema Pharmaceuticals during the fourth quarter worth about $254,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter worth about $222,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olema Pharmaceuticals during the 3rd quarter valued at about $268,000. Finally, Zacks Investment Management raised its holdings in shares of Olema Pharmaceuticals by 138.0% during the 3rd quarter. Zacks Investment Management now owns 30,803 shares of the company's stock valued at $302,000 after buying an additional 17,863 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other 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.

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