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

Olema Pharmaceuticals (NASDAQ:OLMA) released its earnings results 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 Down 6.5 %

Shares of Olema Pharmaceuticals stock traded down $0.29 during trading on Tuesday, hitting $4.16. The stock had a trading volume of 287,598 shares, compared to its average volume of 807,401. The company has a market capitalization of $238.47 million, a PE ratio of -1.90 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 50 day simple moving average of $5.20 and a 200 day simple moving average of $8.51.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were bought at an average price of $5.76 per share, with a total value 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. The trade was a 4.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed 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.