Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08), FiscalAI reports.
Olema Pharmaceuticals Stock Performance
NASDAQ OLMA traded down $0.11 during trading hours on Monday, hitting $11.94. The company’s stock had a trading volume of 692,946 shares, compared to its average volume of 1,432,306. The company’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $15.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. The company has a market cap of $1.04 billion, a P/E ratio of -5.91 and a beta of 2.03. Olema Pharmaceuticals has a 12 month low of $4.47 and a 12 month high of $36.26.
Analyst Upgrades and Downgrades
Several brokerages have commented on OLMA. HC Wainwright reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Wall Street Zen downgraded Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Guggenheim dropped their price objective on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.10.
Insider Buying and Selling at Olema Pharmaceuticals
In other news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total transaction of $144,750.00. Following the completion of the transaction, the director directly owned 715,270 shares of the company’s stock, valued at $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.56% of the stock is owned by insiders.
Institutional Investors Weigh In On Olema Pharmaceuticals
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals during the 3rd quarter valued at $53,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter worth $222,000. EP Wealth Advisors LLC purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter worth $250,000. Wealthspire Advisors LLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth $254,000. Finally, Cetera Investment Advisers bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth $262,000. Institutional investors own 91.78% of the company’s stock.
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.
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