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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Equities research analysts at Lifesci Capital upped their Q3 2024 EPS estimates for Olema Pharmaceuticals in a research note issued on Tuesday, August 6th. Lifesci Capital analyst S. Slutsky now anticipates that the company will earn ($0.50) per share for the quarter, up from their prior forecast 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 posted its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, meeting analysts’ consensus estimates of ($0.54).

A number of other research analysts have also recently commented on OLMA. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $11.85 on Friday. The firm’s 50-day moving average is $12.96 and its two-hundred day moving average is $12.18. Olema Pharmaceuticals has a 12 month low of $8.50 and a 12 month high of $17.79. The stock has a market capitalization of $662.82 million, a P/E ratio of -5.87 and a beta of 2.06.

Institutional Trading of Olema Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Olema Pharmaceuticals during the second quarter worth approximately $576,000. ClariVest Asset Management LLC increased its stake in Olema Pharmaceuticals by 3.1% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $683,000 after purchasing an additional 1,881 shares during the last quarter. Candriam S.C.A. increased its stake in Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after purchasing an additional 705,655 shares during the last quarter. Victory Capital Management Inc. increased its stake in Olema Pharmaceuticals by 26.9% in the second quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock valued at $8,383,000 after purchasing an additional 164,143 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Olema Pharmaceuticals by 43.5% in the second quarter. Rhumbline Advisers now owns 59,261 shares of the company’s stock valued at $641,000 after purchasing an additional 17,953 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Olema Pharmaceuticals

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