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

Olema Pharmaceuticals (NASDAQ:OLMA) posted its quarterly earnings data on Tuesday. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54), Zacks reports.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock traded down $1.19 during trading hours on Wednesday, reaching $12.75. The stock had a trading volume of 442,424 shares, compared to its average volume of 853,394. The stock has a market cap of $713.16 million, a PE ratio of -6.26 and a beta of 2.06. Olema Pharmaceuticals has a 52 week low of $8.50 and a 52 week high of $17.79. The company has a fifty day simple moving average of $12.79 and a 200-day simple moving average of $12.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OLMA shares. Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Tuesday, June 4th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $23.50.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the sale, the insider now owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of Olema Pharmaceuticals stock in a transaction dated 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 owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cyrus Harmon sold 4,066 shares of Olema Pharmaceuticals stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total transaction of $63,348.28. Following the sale, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. The disclosure for this sale can be found here. Insiders have sold a total of 2,449,066 shares of company stock valued at $36,319,848 in the last quarter. Insiders own 19.40% of the company’s stock.

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.