Equities Analysts Issue Forecasts for OLMA FY2024 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Stock analysts at HC Wainwright dropped their FY2024 earnings per share estimates for shares of Olema Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings per share of ($2.34) for the year, down from their prior forecast of ($2.27). HC Wainwright currently has a “Buy” rating and a $30.00 price objective 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 announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01).

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target 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 reiterated an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $9.17 on Friday. The firm’s 50-day moving average is $12.00 and its two-hundred day moving average is $11.96. The stock has a market capitalization of $525.42 million, a P/E ratio of -4.19 and a beta of 2.02. Olema Pharmaceuticals has a 12 month low of $8.51 and a 12 month high of $17.10.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in OLMA. Conway Capital Management Inc. purchased a new stake in Olema Pharmaceuticals in the third quarter valued at $119,000. China Universal Asset Management Co. Ltd. grew its position in shares of 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 acquiring an additional 4,442 shares during the last quarter. Portland Investment Counsel Inc. acquired a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at $143,000. Cubist Systematic Strategies LLC acquired a new stake in Olema Pharmaceuticals during the 2nd quarter worth $145,000. Finally, SG Americas Securities LLC purchased a new position in Olema Pharmaceuticals during the 3rd quarter worth $156,000. Hedge funds and other 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.