Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Expected to Post Q3 2024 Earnings of ($0.61) Per Share

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Investment analysts at Capital One Financial boosted their Q3 2024 EPS estimates for Olema Pharmaceuticals in a research note issued to investors on Wednesday, August 7th. Capital One Financial analyst N. Quibria now anticipates that the company will earn ($0.61) per share for the quarter, up from their prior estimate of ($0.62). The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.30) per share. Capital One Financial also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.62) EPS, FY2024 earnings at ($2.33) EPS, FY2025 earnings at ($2.48) EPS, FY2026 earnings at ($2.66) EPS and FY2027 earnings at ($2.58) EPS.

OLMA has been the topic of several other reports. JPMorgan Chase & Co. decreased their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $12.53 on Monday. The business’s 50 day moving average price is $12.94 and its 200-day moving average price is $12.20. Olema Pharmaceuticals has a 1 year low of $8.50 and a 1 year high of $17.79. The firm has a market capitalization of $700.85 million, a price-to-earnings ratio of -6.20 and a beta of 2.06.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.54).

Institutional Trading of Olema Pharmaceuticals

Several hedge funds have recently made changes to their positions in OLMA. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at approximately $130,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Olema Pharmaceuticals by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock valued at $120,000 after purchasing an additional 4,221 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Olema Pharmaceuticals in the 1st quarter valued at $161,000. EntryPoint Capital LLC grew its holdings in shares of Olema Pharmaceuticals by 949.9% during the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after purchasing an additional 13,146 shares during the period. Finally, Ensign Peak Advisors Inc increased its position in shares of Olema Pharmaceuticals by 6.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Insider Buying and Selling

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now owns 783,118 shares in the company, valued at approximately $11,676,289.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $10.93, for a total value of $54,650.00. Following the completion of the sale, the director now owns 786,283 shares of the company’s stock, valued at $8,594,073.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the sale, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,449,066 shares of company stock worth $36,319,848. 19.40% of the stock is owned by insiders.

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.