Olema Pharmaceuticals (NASDAQ:OLMA) Releases Earnings Results, Misses Estimates By $0.09 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) issued its quarterly earnings results on Tuesday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.09), FiscalAI reports.

Here are the key takeaways from Olema Pharmaceuticals’ conference call:

• OPERA-01 is the company’s near-term catalyst: Olema expects top-line results in Q1 next year from its Phase III trial of palazestrant after CDK4/6 inhibitor treatment. Management highlighted Phase II PFS results in both ESR1-mutant and wild-type patients, but whether these results are replicated in Phase III remains uncertain.
• OPERA-02’s size and timing remain uncertain. The first-line trial testing palazestrant with Kisqali is enrolling well, but Olema may add patients if upcoming SERENA-4 results suggest the control arm is performing better than historical benchmarks; the company has not provided a readout timeline.
• Olema is advancing its KAT6 inhibitor program with combination studies in breast cancer and a planned prostate cancer combination with NUBEQA. Management reported monotherapy activity and said early fulvestrant-combination data will be presented at San Antonio, while noting dose selection and tolerability still need to be established.
• Olema reported about $414 million in cash and said its runway extends into 2028, supporting its ongoing Phase III trials and current OP-3136 work. If OPERA-01 succeeds, the company intends to seek U.S. approval and launch on its own, while pursuing a partner for markets outside the U.S.

Olema Pharmaceuticals Trading Down 0.0%

Shares of OLMA stock traded down $0.00 during trading hours on Wednesday, hitting $7.27. 108,806 shares of the company were exchanged, compared to its average volume of 1,366,101. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. Olema Pharmaceuticals has a fifty-two week low of $6.24 and a fifty-two week high of $36.26. The company has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $13.46. The firm has a market cap of $635.86 million, a P/E ratio of -3.43 and a beta of 2.12.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OLMA shares. HC Wainwright lowered their target price on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Citigroup cut their price target on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

About Olema Pharmaceuticals

Olema Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, particularly breast cancer. The company’s research centers on treatments that target pathways involved in hormone-sensitive tumors. Its lead candidate, palazestrant (OP-1250), is an oral therapy designed to act as both a selective estrogen receptor degrader and a complete estrogen receptor antagonist. Olema has studied it as a potential treatment for estrogen receptor–positive breast cancer, including in combination with other cancer medicines.