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

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.51) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.12, Zacks reports.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA traded up $0.11 during mid-day trading on Friday, hitting $4.23. 2,079,395 shares of the company traded hands, compared to its average volume of 807,025. Olema Pharmaceuticals has a 52-week low of $3.94 and a 52-week high of $16.62. The firm's 50 day simple moving average is $5.09 and its 200 day simple moving average is $8.35. The firm has a market cap of $242.37 million, a P/E ratio of -1.93 and a beta of 2.11.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Oppenheimer restated an "outperform" rating and issued a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday.

Insider Buying and Selling at Olema Pharmaceuticals

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

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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.