FY2023 Earnings Forecast for Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Issued By HC Wainwright

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Investment analysts at HC Wainwright increased their FY2023 earnings per share (EPS) estimates for Olema Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 8th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($2.09) per share for the year, up from their prior estimate of ($2.10). HC Wainwright has a “Buy” rating and a $28.00 price objective on the stock. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.21) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ FY2025 earnings at ($2.04) EPS, FY2026 earnings at ($2.30) EPS and FY2027 earnings at ($2.09) EPS.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, August 8th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.24.

OLMA has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, September 15th. Oppenheimer reissued an “outperform” rating and set a $21.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, September 6th. Finally, Credit Suisse Group raised their target price on Olema Pharmaceuticals from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Olema Pharmaceuticals has an average rating of “Buy” and an average target price of $21.20.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $15.83 on Friday. The stock has a market capitalization of $654.57 million, a PE ratio of -6.82 and a beta of 2.39. Olema Pharmaceuticals has a fifty-two week low of $2.19 and a fifty-two week high of $17.79. The company has a fifty day moving average of $12.72 and a two-hundred day moving average of $9.62.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 5,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $15.64, for a total value of $78,200.00. Following the completion of the sale, the director now owns 943,714 shares in the company, valued at approximately $14,759,686.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $15.64, for a total value of $78,200.00. Following the completion of the sale, the director now directly owns 943,714 shares in the company, valued at $14,759,686.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David C. Myles sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $12.67, for a total value of $253,400.00. Following the completion of the sale, the insider now directly owns 572,011 shares of the company’s stock, valued at approximately $7,247,379.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,209 shares of company stock worth $1,309,326. 23.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Olema Pharmaceuticals by 651.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,602,556 shares of the company’s stock valued at $14,470,000 after purchasing an additional 1,389,244 shares during the period. BlackRock Inc. boosted its holdings in Olema Pharmaceuticals by 134.2% in the 2nd quarter. BlackRock Inc. now owns 2,333,300 shares of the company’s stock valued at $21,070,000 after purchasing an additional 1,337,123 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $5,310,000. Millennium Management LLC increased its holdings in shares of Olema Pharmaceuticals by 653.2% during the 2nd quarter. Millennium Management LLC now owns 643,344 shares of the company’s stock worth $2,618,000 after buying an additional 557,927 shares during the last quarter. Finally, Vivo Capital LLC raised its position in shares of Olema Pharmaceuticals by 39.9% during the 3rd quarter. Vivo Capital LLC now owns 1,873,704 shares of the company’s stock valued at $23,140,000 after buying an additional 534,433 shares during the period. Hedge funds and other institutional investors own 88.00% 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 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; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1b/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer.