What is HC Wainwright’s Forecast for OLMA FY2024 Earnings?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – HC Wainwright lifted their FY2024 EPS estimates for shares of Olema Pharmaceuticals in a report released on Wednesday, December 11th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($2.23) per share for the year, up from their previous forecast of ($2.34). 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 ($2.35) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.97) EPS, FY2025 earnings at ($3.25) EPS, FY2026 earnings at ($4.14) EPS, FY2027 earnings at ($3.84) EPS and FY2028 earnings at ($3.28) EPS.

Olema Pharmaceuticals Trading Up 0.4 %

Shares of NASDAQ OLMA opened at $6.75 on Friday. The firm’s 50-day moving average price is $10.70 and its 200-day moving average price is $11.86. The stock has a market capitalization of $386.78 million, a price-to-earnings ratio of -3.08 and a beta of 1.92. Olema Pharmaceuticals has a 12-month low of $6.24 and a 12-month high of $16.77.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently modified their holdings of OLMA. Price T Rowe Associates Inc. MD increased its position in shares of Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after acquiring an additional 1,486 shares during the period. California State Teachers Retirement System increased its position in shares of Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after acquiring an additional 1,132 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Olema Pharmaceuticals during the second quarter worth approximately $945,000. Bank of New York Mellon Corp increased its position in shares of Olema Pharmaceuticals by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 139,923 shares of the company’s stock worth $1,514,000 after acquiring an additional 58,622 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Olema Pharmaceuticals by 43.5% during the second quarter. Rhumbline Advisers now owns 59,261 shares of the company’s stock worth $641,000 after acquiring an additional 17,953 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider David C. Myles sold 12,452 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the sale, the insider now directly owns 611,947 shares of the company’s stock, valued at $5,740,062.86. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cyrus Harmon sold 8,256 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total transaction of $77,358.72. Following the completion of the sale, the director now directly owns 772,277 shares in the company, valued at $7,236,235.49. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,036 shares of company stock worth $684,472. 19.40% of the stock is currently owned by corporate insiders.

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.