What is HC Wainwright's Estimate for OLMA FY2024 Earnings?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) - HC Wainwright decreased their FY2024 earnings estimates for shares of Olema Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($2.34) per share for the year, down from their prior estimate of ($2.27). HC Wainwright currently has a "Buy" rating and a $30.00 price objective on the stock. The consensus estimate for Olema Pharmaceuticals' current full-year earnings is ($2.32) per share. HC Wainwright also issued estimates for Olema Pharmaceuticals' Q4 2024 earnings at ($0.64) EPS, FY2025 earnings at ($2.82) EPS, FY2026 earnings at ($2.95) EPS, FY2027 earnings at ($2.83) EPS and FY2028 earnings at ($2.43) EPS.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased 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 note on Thursday, August 8th. Oppenheimer restated an "outperform" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $27.00.

Olema Pharmaceuticals Stock Down 9.2 %

NASDAQ:OLMA traded down $0.93 during trading hours on Friday, reaching $9.17. 591,589 shares of the company's stock were exchanged, compared to its average volume of 736,101. The firm has a market capitalization of $525.42 million, a price-to-earnings ratio of -4.43 and a beta of 2.02. The company has a 50-day moving average of $12.05 and a 200 day moving average of $11.96. Olema Pharmaceuticals has a 1-year low of $8.51 and a 1-year high of $17.10.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.01).

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Swiss National Bank increased its holdings in Olema Pharmaceuticals by 8.8% during the 1st quarter. Swiss National Bank now owns 70,300 shares of the company's stock valued at $796,000 after acquiring an additional 5,700 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Olema Pharmaceuticals during the 1st quarter valued at about $176,000. Entropy Technologies LP purchased a new position in Olema Pharmaceuticals during the 1st quarter valued at about $161,000. EntryPoint Capital LLC increased its holdings in Olema Pharmaceuticals by 949.9% during the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company's stock valued at $164,000 after acquiring an additional 13,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Olema Pharmaceuticals by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company's stock worth $298,000 after purchasing an additional 1,486 shares during the last quarter. Hedge funds and other institutional investors own 91.78% 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.