Olema Pharmaceuticals (NASDAQ:OLMA) Posts Quarterly Earnings Results, Meets Expectations

Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) announced its earnings results on Tuesday. The company reported ($0.54) earnings per share for the quarter, hitting the consensus estimate of ($0.54), Zacks reports.

Olema Pharmaceuticals Trading Down 1.4 %

NASDAQ:OLMA traded down $0.18 during trading hours on Friday, hitting $12.56. 49,482 shares of the stock traded hands, compared to its average volume of 851,048. The firm has a 50 day moving average price of $12.91 and a 200 day moving average price of $12.17. The firm has a market cap of $702.53 million, a price-to-earnings ratio of -6.31 and a beta of 2.06. Olema Pharmaceuticals has a fifty-two week low of $8.50 and a fifty-two week high of $17.79.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock in a transaction on Friday, May 31st. The stock was sold at an average price of $9.41, for a total transaction of $141,150.00. Following the transaction, the director now owns 791,283 shares in the company, valued at $7,445,973.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cyrus Harmon sold 15,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $9.41, for a total value of $141,150.00. Following the completion of the transaction, the director now owns 791,283 shares in the company, valued at approximately $7,445,973.03. The disclosure for this sale can be found here. Insiders sold a total of 2,449,066 shares of company stock valued at $36,319,848 over the last quarter. Company insiders own 19.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $25.50.

Check Out Our Latest Research Report on Olema Pharmaceuticals

Olema Pharmaceuticals Company Profile

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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.

See Also

Earnings History for Olema Pharmaceuticals (NASDAQ:OLMA)

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