HC Wainwright Has Negative Estimate for OLMA FY2029 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – HC Wainwright reduced their FY2029 earnings per share (EPS) estimates for shares of Olema Pharmaceuticals in a note issued to investors on Monday, March 9th. HC Wainwright analyst E. Bodnar now anticipates that the company will post earnings of ($1.58) per share for the year, down from their previous forecast 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 brokerages have also recently commented on OLMA. UBS Group initiated coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group upped their target price on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup raised their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Olema Pharmaceuticals Trading Down 1.0%

OLMA stock opened at $15.61 on Thursday. The business has a fifty day moving average price of $24.59 and a 200 day moving average price of $18.36. 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 fifty-two week low of $2.86 and a fifty-two week high of $36.26. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.35 and a beta of 1.92.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $1,061,000. Invesco Ltd. increased its stake in Olema Pharmaceuticals by 25.0% in the fourth quarter. Invesco Ltd. now owns 155,732 shares of the company’s stock valued at $3,893,000 after purchasing an additional 31,098 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter worth $250,000. Vestal Point Capital LP bought a new position in shares of Olema Pharmaceuticals during the fourth quarter worth $41,250,000. Finally, Wellington Management Group LLP grew its holdings in shares of Olema Pharmaceuticals by 8.2% in the 4th quarter. Wellington Management Group LLP now owns 220,971 shares of the company’s stock valued at $5,524,000 after buying an additional 16,764 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shane William Charles Kovacs sold 100,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the insider owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This represents a 41.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Naseem Zojwalla sold 99,509 shares of the firm’s stock in a transaction 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 owned 4,488 shares in the company, valued at $124,138.08. This represents a 95.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 805,501 shares of company stock worth $23,003,832. Corporate insiders own 16.36% of the company’s stock.

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.