Olema Pharmaceuticals (NASDAQ:OLMA) Posts Quarterly Earnings Results, Meets Expectations

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

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock traded up $0.44 during mid-day trading on Thursday, reaching $14.02. The company’s stock had a trading volume of 340,536 shares, compared to its average volume of 1,428,874. Olema Pharmaceuticals has a 12-month low of $3.89 and a 12-month high of $36.26. The company has a market capitalization of $1.22 billion, a P/E ratio of -6.93 and a beta of 2.05. 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 firm’s fifty day moving average price is $15.79 and its two-hundred day moving average price is $20.45.

Insider Activity

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 12.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in Olema Pharmaceuticals by 3.2% in the 4th quarter. Deutsche Bank AG now owns 63,067 shares of the company’s stock worth $1,577,000 after purchasing an additional 1,975 shares during the period. Bank of America Corp DE lifted its holdings in shares of Olema Pharmaceuticals by 0.4% in the third quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock worth $7,855,000 after buying an additional 2,802 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Olema Pharmaceuticals in the third quarter worth about $53,000. Campbell & CO Investment Adviser LLC boosted its position in shares of Olema Pharmaceuticals by 22.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 35,556 shares of the company’s stock valued at $889,000 after acquiring an additional 6,508 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Olema Pharmaceuticals by 46.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,442 shares of the company’s stock valued at $96,000 after acquiring an additional 7,146 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OLMA has been the subject of several research reports. 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 price target for the company. Jefferies Financial Group initiated coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They issued a “buy” rating and a $40.00 target price on the stock. The Goldman Sachs Group decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. HC Wainwright dropped their price objective on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Finally, Wolfe Research initiated coverage on Olema Pharmaceuticals in a research report on Friday, March 27th. They issued a “peer perform” rating for the company. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Olema Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $44.10.

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.