Olema Pharmaceuticals (NASDAQ:OLMA) Issues Earnings Results, Hits Expectations

Olema Pharmaceuticals (NASDAQ:OLMA) posted its earnings results on Tuesday. The company reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52), FiscalAI reports.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA traded down $1.49 during mid-day trading on Tuesday, reaching $13.37. 1,030,888 shares of the company’s stock were exchanged, compared to its average volume of 1,423,046. The firm has a market capitalization of $1.17 billion, a PE ratio of -7.17 and a beta of 2.05. Olema Pharmaceuticals has a one year low of $3.89 and a one year high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 9.95. The business’s fifty day simple moving average is $16.20 and its two-hundred day simple moving average is $20.37.

Insider Buying and Selling

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a filing with the SEC, which is available at this link. 16.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in Olema Pharmaceuticals by 3.2% in the fourth quarter. Deutsche Bank AG now owns 63,067 shares of the company’s stock valued at $1,577,000 after purchasing an additional 1,975 shares during the period. Bank of America Corp DE boosted its stake in Olema Pharmaceuticals by 0.4% in the 3rd quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock worth $7,855,000 after purchasing an additional 2,802 shares during the period. Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals in the 3rd quarter worth approximately $53,000. Campbell & CO Investment Adviser LLC grew its stake in Olema Pharmaceuticals by 22.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 35,556 shares of the company’s stock worth $889,000 after buying an additional 6,508 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Olema Pharmaceuticals by 46.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,442 shares of the company’s stock valued at $96,000 after purchasing an additional 7,146 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus initiated coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, February 11th. They set a “buy” rating and a $48.00 target price for the company. Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. HC Wainwright lowered their price objective on shares of Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Finally, The Goldman Sachs Group reduced their target price on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.40.

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.