Olema Pharmaceuticals (NASDAQ:OLMA) Announces Quarterly Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) issued its earnings results on Tuesday. The company reported ($0.73) EPS for the quarter, missing the consensus estimate 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 Price Performance

Shares of OLMA traded down $0.12 during mid-day trading on Tuesday, reaching $7.24. The company had a trading volume of 257,411 shares, compared to its average volume of 1,368,721. The company’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $13.55. Olema Pharmaceuticals has a 1-year low of $6.24 and a 1-year high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. The company has a market capitalization of $633.85 million, a price-to-earnings ratio of -3.42 and a beta of 2.12.

Analyst Ratings Changes

OLMA has been the topic of a number of recent analyst reports. HC Wainwright decreased their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Citigroup cut their target price on Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Stifel Nicolaus decreased their price target on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Finally, Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olema Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address cancer biology and resistance mechanisms that can limit the effectiveness of existing endocrine therapies.

Olema’s lead product candidate is palazestrant, an oral selective estrogen receptor degrader (SERD) being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer.