HC Wainwright Issues Pessimistic Forecast for OLMA Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share estimates for shares of Olema Pharmaceuticals in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($2.34) per share for the year, down from their prior forecast of ($2.27). HC Wainwright currently has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.32) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.64) EPS, FY2025 earnings at ($2.82) EPS, FY2026 earnings at ($2.95) EPS, FY2027 earnings at ($2.83) EPS and FY2028 earnings at ($2.43) EPS.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01).

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. cut their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock opened at $9.17 on Friday. Olema Pharmaceuticals has a 1-year low of $8.51 and a 1-year high of $17.10. The firm’s 50-day simple moving average is $12.00 and its 200-day simple moving average is $11.96. The firm has a market cap of $525.42 million, a P/E ratio of -4.19 and a beta of 2.02.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently bought and sold shares of OLMA. Ensign Peak Advisors Inc boosted its stake in Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after acquiring an additional 850 shares during the period. California State Teachers Retirement System grew its stake in shares of Olema Pharmaceuticals by 3.4% in the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after purchasing an additional 1,132 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock valued at $298,000 after purchasing an additional 1,486 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in Olema Pharmaceuticals by 3.1% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $683,000 after purchasing an additional 1,881 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Olema Pharmaceuticals by 5.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock valued at $581,000 after buying an additional 2,407 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

About Olema Pharmaceuticals

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.