HC Wainwright Has Bearish Forecast for OLMA FY2024 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – HC Wainwright lowered their FY2024 earnings estimates for Olema Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings of ($2.34) per share for the year, down from their previous estimate of ($2.27). HC Wainwright currently has a “Buy” rating and a $30.00 target price 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.

A number of other research firms also recently issued reports on OLMA. JPMorgan Chase & Co. reduced their price objective on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer restated an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Trading Down 12.0 %

NASDAQ:OLMA opened at $10.10 on Friday. The business’s 50-day moving average is $12.05 and its 200 day moving average is $11.96. Olema Pharmaceuticals has a 12 month low of $8.51 and a 12 month high of $17.23. The company has a market capitalization of $578.73 million, a P/E ratio of -4.61 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01).

Hedge Funds Weigh In On Olema Pharmaceuticals

Several large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its stake in Olema Pharmaceuticals by 67.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after buying an additional 4,442 shares during the period. Portland Investment Counsel Inc. bought a new stake in shares of Olema Pharmaceuticals in the 3rd quarter worth about $143,000. SG Americas Securities LLC purchased a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth about $156,000. Cubist Systematic Strategies LLC bought a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $145,000. Finally, Intech Investment Management LLC purchased a new stake in Olema Pharmaceuticals in the 3rd quarter worth about $163,000. Institutional investors own 91.78% of the company’s stock.

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.