Olema Pharmaceuticals (NASDAQ:OLMA) Releases Earnings Results, Misses Expectations By $0.05 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) posted its quarterly earnings data on Monday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05), Zacks reports.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock opened at $8.35 on Wednesday. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $12.78. The stock has a fifty day simple moving average of $8.84 and a two-hundred day simple moving average of $6.25. The stock has a market capitalization of $572.72 million, a price-to-earnings ratio of -4.46 and a beta of 2.07.

Analyst Ratings Changes

OLMA has been the topic of several recent research reports. UBS Group reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Oppenheimer reissued an “outperform” rating and set a $22.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, Citigroup boosted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.33, for a total transaction of $83,300.00. Following the completion of the sale, the director owned 744,140 shares in the company, valued at $6,198,686.20. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 25,000 shares of company stock worth $204,841 over the last 90 days. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans bought a new position in Olema Pharmaceuticals in the second quarter worth about $308,000. Jane Street Group LLC grew its holdings in Olema Pharmaceuticals by 216.8% in the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after purchasing an additional 94,815 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Olema Pharmaceuticals by 193.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock worth $4,996,000 after purchasing an additional 773,064 shares in the last quarter. Institutional investors own 91.78% 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.