HC Wainwright Reaffirms "Buy" Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

HC Wainwright reaffirmed their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA - Free Report) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $30.00 target price on the stock. HC Wainwright also issued estimates for Olema Pharmaceuticals' Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.70) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.92) EPS, FY2025 earnings at ($3.03) EPS, FY2026 earnings at ($3.86) EPS, FY2027 earnings at ($3.60) EPS, FY2028 earnings at ($3.10) EPS and FY2029 earnings at ($2.41) EPS.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock traded up $0.11 during midday trading on Wednesday, reaching $4.23. 2,079,395 shares of the company were exchanged, compared to its average volume of 805,734. The company has a market capitalization of $242.37 million, a price-to-earnings ratio of -1.93 and a beta of 2.11. The firm's 50-day simple moving average is $5.09 and its 200-day simple moving average is $8.30. Olema Pharmaceuticals has a 1 year low of $3.94 and a 1 year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.12. On average, analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

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Insiders Place Their Bets

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm's stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 19.40% of the stock is owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in Olema Pharmaceuticals in the 4th quarter worth about $30,000. Conway Capital Management Inc. acquired a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at about $119,000. Hsbc Holdings PLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $58,000. Teacher Retirement System of Texas acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $60,000. Finally, Virtus ETF Advisers LLC lifted its stake in shares of Olema Pharmaceuticals by 43.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock valued at $62,000 after purchasing an additional 3,185 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.