Olema Pharmaceuticals (NASDAQ:OLMA) Issues Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) released its earnings results on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12, Zacks reports.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $4.14 on Wednesday. The company has a market capitalization of $237.21 million, a price-to-earnings ratio of -1.89 and a beta of 2.11. The firm’s 50 day simple moving average is $5.18 and its 200 day simple moving average is $8.46. Olema Pharmaceuticals has a fifty-two week low of $3.95 and a fifty-two week high of $16.62.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the acquisition, the insider now directly owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Tuesday, March 11th.

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.