Olema Pharmaceuticals (NASDAQ:OLMA) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) announced its quarterly earnings results on Tuesday. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12, Zacks reports.

Olema Pharmaceuticals Price Performance

OLMA opened at $4.11 on Thursday. The business’s 50-day moving average is $5.14 and its two-hundred day moving average is $8.43. Olema Pharmaceuticals has a 1 year low of $3.95 and a 1 year high of $16.62. The firm has a market capitalization of $235.49 million, a PE ratio of -1.88 and a beta of 2.11.

Analyst Ratings Changes

Several research firms have issued reports on OLMA. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $25.00 target price (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the purchase, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.40% of the stock is owned by 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.