HC Wainwright Has Strong Forecast for OLMA FY2024 Earnings

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) – Investment analysts at HC Wainwright upped their FY2024 earnings per share (EPS) estimates for Olema Pharmaceuticals in a report issued on Wednesday, December 11th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($2.23) per share for the year, up from their prior forecast of ($2.34). HC Wainwright has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Olema Pharmaceuticals’ current full-year earnings is ($2.35) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.53) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.97) EPS, FY2025 earnings at ($3.25) EPS, FY2026 earnings at ($4.14) EPS, FY2027 earnings at ($3.84) EPS and FY2028 earnings at ($3.28) EPS.

Olema Pharmaceuticals Stock Down 20.1 %

OLMA stock opened at $6.72 on Friday. Olema Pharmaceuticals has a 12 month low of $6.50 and a 12 month high of $16.77. The firm’s fifty day simple moving average is $10.80 and its 200-day simple moving average is $11.88.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Olema Pharmaceuticals by 9.9% during the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock worth $10,167,000 after acquiring an additional 76,720 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Olema Pharmaceuticals during the 2nd quarter worth approximately $945,000. Point72 Asset Management L.P. acquired a new stake in shares of Olema Pharmaceuticals during the 2nd quarter valued at approximately $34,753,000. Dana Investment Advisors Inc. purchased a new stake in Olema Pharmaceuticals in the 2nd quarter valued at approximately $808,000. Finally, Great Point Partners LLC raised its holdings in Olema Pharmaceuticals by 25.5% in the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after acquiring an additional 203,120 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Olema Pharmaceuticals

In other news, CEO Sean Bohen sold 52,328 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $490,313.36. Following the sale, the chief executive officer now owns 298,836 shares of the company’s stock, valued at $2,800,093.32. This trade represents a 14.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David C. Myles sold 12,452 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total transaction of $116,799.76. Following the completion of the transaction, the insider now owns 611,947 shares of the company’s stock, valued at approximately $5,740,062.86. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,036 shares of company stock worth $684,472 over the last three months. Company insiders own 19.40% 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.