Olema Pharmaceuticals (NASDAQ:OLMA) Issues Earnings Results, Beats Expectations By $0.12 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) posted its earnings results on Tuesday. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12, Zacks reports.

Olema Pharmaceuticals Stock Down 7.0 %

NASDAQ:OLMA traded down $0.31 on Tuesday, reaching $4.14. The stock had a trading volume of 483,310 shares, compared to its average volume of 1,006,454. The company has a market capitalization of $237.21 million, a P/E ratio of -1.89 and a beta of 2.11. Olema Pharmaceuticals has a 1-year low of $3.95 and a 1-year high of $16.62. The stock has a fifty day moving average price of $5.20 and a 200-day moving average price of $8.51.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Tuesday, March 11th.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of Olema Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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.