HC Wainwright Has Negative Estimate for OLMA FY2029 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Equities research analysts at HC Wainwright reduced their FY2029 earnings per share estimates for Olema Pharmaceuticals in a report issued on Monday, March 9th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($1.58) per share for the year, down from their prior estimate of ($1.53). HC Wainwright has a “Buy” rating and a $38.00 price target on the stock. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.33) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ FY2030 earnings at ($0.83) EPS.

Several other brokerages also recently commented on OLMA. Piper Sandler started coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday. UBS Group started coverage on Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Citigroup lifted their price objective on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Olema Pharmaceuticals Trading Down 4.5%

Shares of NASDAQ OLMA opened at $14.91 on Thursday. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $36.26. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -7.97 and a beta of 1.92. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $24.39 and its 200-day moving average is $18.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Persistent Asset Partners Ltd lifted its stake in Olema Pharmaceuticals by 153.8% in the 2nd quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock valued at $248,000 after acquiring an additional 35,345 shares in the last quarter. Titleist Asset Management LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $64,000. Diadema Partners LP grew its stake in shares of Olema Pharmaceuticals by 153.7% during the 2nd quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock worth $1,081,000 after acquiring an additional 153,657 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after purchasing an additional 399,273 shares during the last quarter. Finally, Birchview Capital LP acquired a new stake in shares of Olema Pharmaceuticals in the second quarter valued at approximately $571,000. 91.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Naseem Zojwalla sold 99,509 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $27.66, for a total value of $2,752,418.94. Following the completion of the transaction, the insider directly owned 4,488 shares of the company’s stock, valued at approximately $124,138.08. This represents a 95.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 805,501 shares of company stock worth $23,003,832 in the last ninety days. 16.36% of the stock is owned by insiders.

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.