Equities Analysts Offer Predictions for Olema Pharmaceuticals, Inc.’s Q2 2024 Earnings (NASDAQ:OLMA)

Olema Pharmaceuticals, Inc. (NASDAQ:OLMAFree Report) – Lifesci Capital issued their Q2 2024 earnings estimates for Olema Pharmaceuticals in a research note issued on Wednesday, May 8th. Lifesci Capital analyst S. Slutsky expects that the company will earn ($0.47) per share for the quarter. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.40) per share.

Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49).

A number of other research firms have also recently issued reports on OLMA. The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price objective for the company. HC Wainwright increased their price target on Olema Pharmaceuticals from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Citigroup initiated coverage on Olema Pharmaceuticals in a research report on Tuesday, January 30th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Capital One Financial reiterated an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.67.

Read Our Latest Stock Report on OLMA

Olema Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ OLMA opened at $9.22 on Monday. The stock has a 50-day moving average price of $11.08 and a two-hundred day moving average price of $12.78. Olema Pharmaceuticals has a 12 month low of $5.02 and a 12 month high of $17.79. The company has a market cap of $515.67 million, a price-to-earnings ratio of -4.56 and a beta of 2.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Olema Pharmaceuticals during the third quarter worth $784,000. MPM Bioimpact LLC lifted its stake in shares of Olema Pharmaceuticals by 301.7% in the 3rd quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock valued at $22,942,000 after purchasing an additional 1,395,181 shares during the period. Vanguard Group Inc. boosted its position in shares of Olema Pharmaceuticals by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock valued at $21,122,000 after purchasing an additional 36,785 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Olema Pharmaceuticals by 68.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 388,982 shares of the company’s stock valued at $4,804,000 after purchasing an additional 157,549 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Olema Pharmaceuticals during the fourth quarter worth approximately $89,000. Institutional investors own 91.78% of the company’s stock.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $10.92, for a total transaction of $54,600.00. Following the transaction, the director now directly owns 806,283 shares of the company’s stock, valued at approximately $8,804,610.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 65,000 shares of company stock valued at $726,900 over the last 90 days. 23.50% of the stock is owned by insiders.

About Olema Pharmaceuticals

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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.

See Also

Earnings History and Estimates for Olema Pharmaceuticals (NASDAQ:OLMA)

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