Q3 2024 EPS Estimates for Olema Pharmaceuticals, Inc. Raised by Lifesci Capital (NASDAQ:OLMA)

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Research analysts at Lifesci Capital increased their Q3 2024 earnings estimates for shares of Olema Pharmaceuticals in a report released on Tuesday, August 6th. Lifesci Capital analyst S. Slutsky now forecasts that the company will post earnings per share of ($0.50) for the quarter, up from their prior estimate of ($0.52). The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.30) per share. Lifesci Capital also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at $4.08 EPS and FY2024 earnings at $3.41 EPS.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, meeting analysts’ consensus estimates of ($0.54).

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Olema Pharmaceuticals has an average rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Trading Down 7.0 %

Shares of OLMA stock opened at $11.85 on Friday. The company’s fifty day simple moving average is $12.96 and its 200-day simple moving average is $12.18. Olema Pharmaceuticals has a 52 week low of $8.50 and a 52 week high of $17.79. The company has a market cap of $662.82 million, a PE ratio of -5.87 and a beta of 2.06.

Insider Buying and Selling

In other news, Director Cyrus Harmon sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $10.93, for a total value of $54,650.00. Following the completion of the sale, the director now owns 786,283 shares of the company’s stock, valued at approximately $8,594,073.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cyrus Harmon sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $10.93, for a total transaction of $54,650.00. Following the completion of the sale, the director now directly owns 786,283 shares of the company’s stock, valued at approximately $8,594,073.19. The disclosure for this sale can be found here. Insiders have sold 2,449,066 shares of company stock valued at $36,319,848 in the last quarter. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of OLMA. Candriam S.C.A. increased its position in shares of Olema Pharmaceuticals by 199.9% in the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after purchasing an additional 705,655 shares during the last quarter. First Light Asset Management LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $8,854,000. Victory Capital Management Inc. boosted its holdings in shares of Olema Pharmaceuticals by 879.6% in the 4th quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock valued at $8,720,000 after buying an additional 558,077 shares during the period. Perceptive Advisors LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $7,574,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Olema Pharmaceuticals by 74.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after buying an additional 521,562 shares during the period. 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.