Olema Pharmaceuticals (NASDAQ:OLMA) Posts Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) announced its quarterly earnings data on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52), FiscalAI reports.

Olema Pharmaceuticals Stock Down 4.1%

NASDAQ:OLMA traded down $0.57 during mid-day trading on Wednesday, hitting $13.40. The company had a trading volume of 333,728 shares, compared to its average volume of 1,430,033. The business has a fifty day simple moving average of $16.00 and a 200-day simple moving average of $20.41. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -7.20 and a beta of 2.05. Olema Pharmaceuticals has a 1 year low of $3.89 and a 1 year high of $36.26. The company has a current ratio of 9.95, a quick ratio of 9.95 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim reduced their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer restated an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Citigroup raised their price objective on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Wall Street Zen raised Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Finally, Wolfe Research began coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They set a “peer perform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Olema Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $44.10.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $655,000. Creative Planning lifted its position in shares of Olema Pharmaceuticals by 183.3% during the third quarter. Creative Planning now owns 55,310 shares of the company’s stock worth $541,000 after purchasing an additional 35,789 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at $433,000. Polen Capital Management LLC purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at $380,000. Finally, Rhumbline Advisers grew its holdings in Olema Pharmaceuticals by 48.2% during the 2nd quarter. Rhumbline Advisers now owns 86,027 shares of the company’s stock valued at $366,000 after purchasing an additional 27,972 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.