Olema Pharmaceuticals (NASDAQ:OLMA) Releases Earnings Results, Beats Expectations By $0.01 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) posted its quarterly earnings data on Monday. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01, FiscalAI reports.

Olema Pharmaceuticals Stock Up 12.8%

Olema Pharmaceuticals stock opened at $16.60 on Tuesday. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $36.26. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.14 billion, a PE ratio of -8.88 and a beta of 1.93. The firm’s fifty day moving average is $24.01 and its 200 day moving average is $18.66.

Analyst Ratings Changes

Several research analysts have commented on OLMA shares. Piper Sandler started coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Citigroup lifted 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. The Goldman Sachs Group upped their price objective 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. Finally, Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, February 11th. They issued a “buy” rating and a $48.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Olema Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Transactions at Olema Pharmaceuticals

In related news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total value of $268,800.00. Following the transaction, the director owned 727,770 shares of the company’s stock, valued at $19,562,457.60. This trade represents a 1.36% decrease in their position. 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 valued at $23,003,832. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Siren L.L.C. bought a new stake in Olema Pharmaceuticals in the 4th quarter worth about $82,518,000. Janus Henderson Group PLC lifted its position in shares of Olema Pharmaceuticals by 87.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock worth $167,901,000 after buying an additional 3,124,345 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $65,000,000. Bain Capital Life Sciences Investors LLC boosted its stake in shares of Olema Pharmaceuticals by 24.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock worth $212,716,000 after buying an additional 1,664,687 shares during the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $41,250,000. 91.78% of the stock is currently owned by institutional investors.

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.