Olema Pharmaceuticals (OLMA) AI Stock Analysis

• Market Cap: $1.27B
• Dividend Yield: N/A
• Average Volume (3M): 1.81M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.95
• Revenue Growth: N/A
• EPS Growth: 17.23%
• Country: US
• Employees: 96
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.50
• Shares Outstanding: 87,156,960
• 10 Day Avg. Volume: 3,044,716
• 30 Day Avg. Volume: 1,811,873
• PEG Ratio: 0.89
• Price to Book (P/B): 4.55
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -14.83
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -3.53K
• Enterprise Value/Ebitda: -6.36
• 1Y Price Target: $42.50
• Price Target Upside: 191.90% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): -2.29
• Revenue Forecast (FY): $2.05M

• Rating: 47 Neutral
• Price Target: $16.50 ▲(13.32% Upside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is held down primarily by weak financial performance driven by no revenue, widening losses, and rising cash burn, alongside bearish technical momentum. A low-debt balance sheet and a positive strategic update support the outlook, but do not offset the near-term funding and execution risks.

Positive Factors

Balance sheet strength

Very low leverage gives Olema durable financial flexibility: with minimal debt relative to equity the company faces limited balance-sheet risk from borrowing, preserving capacity to fund clinical programs, enter partnerships, and manage downside through additional non-debt financing if needed.

Material recent capital raise

A ~$218.5M public offering materially extends runway and underwrites upcoming catalysts: it reduces immediate funding pressure, enables multiple expected clinical readouts and commercial-prep activities, and lowers near-term dilutive urgency versus relying on smaller bridge financings.

Lead asset & strategic collaborations

Palazestrant is positioned as a differentiated oral SERD with broad combinability; active OPERA programs, investigator interest, and a Pfizer collaboration give structural product development advantages and potential market entry options across first- and later-line endocrine settings.

Negative Factors

Pre-revenue model & widening losses

Operating without revenue leaves Olema reliant on external financing to support expanding R&D spend; materially widening losses signal sustained burn and negative returns that, absent successful trials or partnership revenues, will increase dilution risk and strain investor tolerance over time.

Accelerating cash burn

Steeper negative operating cash flow reflects higher ongoing funding needs to advance trials and programs; accelerating cash burn shortens runway between financings, raises the probability of future capital raises, and makes the company more sensitive to trial timing and milestone outcomes.

Senior finance leadership turnover

Departure of the CFO during a critical development and financing phase creates execution risk: transitions can disrupt financial planning, fundraising and investor communication, and an interim CEO-as-PFO arrangement may divert management focus during commercialization preparations and pivotal readouts.

Olema Pharmaceuticals Business Overview & Revenue Model

Company Description

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 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. The company was formerly known as CombiThera, Inc. and changed its name to Olema Pharmaceuticals, Inc. in March 2009. Olema Pharmaceuticals, Inc. was incorporated in 2006 and is headquartered in San Francisco, California.

How the Company Makes Money

Olema Pharmaceuticals is a clinical-stage company and does not have an established commercial product portfolio; therefore, recurring product sales revenue is null. The company primarily funds operations through financing activities typical for development-stage biopharma companies (e.g., issuing equity and raising capital in public or private markets), which are not operating revenue. Any operating revenue, when present, generally comes from collaboration and licensing arrangements (such as upfront payments, research or cost-reimbursement funding, and potential development, regulatory, and commercial milestone payments, plus royalties if a partnered product is commercialized), but specific amounts, counterparties, and the materiality of such items cannot be confirmed here and are null.

Olema Pharmaceuticals Financial Statement Overview

Summary

Balance sheet strength (very low debt vs. sizable equity) supports financial flexibility, but the overall financial profile is weighed down by a pre-revenue model with materially widening losses and accelerating cash burn, increasing reliance on future financing.

Income Statement

The company reports no revenue across all provided annual periods, consistent with a clinical-stage biotech profile. Losses have widened materially over time, with net loss increasing from about $22M (2020) to about $162M (2025), and EBIT/EBITDA similarly more negative—signaling rising operating spend without an offsetting revenue base. The main positive is that losses are being funded without visible reliance on revenue-driven profitability yet, but overall earnings quality and profitability are weak given the persistent and expanding deficit.

Balance Sheet

The balance sheet is a clear strength: leverage is very low, with total debt around $1.2M (2025) against stockholders’ equity of about $479M, implying minimal balance-sheet risk from borrowing. Total assets have grown meaningfully since 2022, and equity has also increased, supporting financial flexibility. The key weakness is that returns on equity are deeply negative (roughly -25% to -53% across the period) due to ongoing losses, which can pressure equity over time if cash burn continues.

Cash Flow

Cash generation is weak, with consistently negative operating and free cash flow each year. Cash burn has accelerated in recent periods, with operating cash flow declining from about -$84M (2023) to about -$147M (2025), indicating higher ongoing funding needs. A relative positive is that free cash flow broadly tracks net loss (free cash flow to net income is ~1x in most years), suggesting losses are largely reflected in cash usage rather than being masked by large non-cash items; however, the absolute level and trend of cash burn remain a significant risk.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00
EBITDA	-178.21M	-141.87M	-104.58M	-106.63M	-71.33M
Net Income	-162.45M	-129.47M	-96.66M	-104.79M	-71.10M
Balance Sheet
Total Assets	533.43M	450.98M	276.94M	215.65M	295.94M
Cash, Cash Equivalents and Short-Term Investments	505.44M	434.09M	261.81M	204.42M	287.25M
Total Debt	1.19M	1.43M	2.42M	2.56M	3.29M
Total Liabilities	54.87M	42.02M	23.05M	18.10M	11.38M
Stockholders Equity	478.56M	408.96M	253.90M	197.55M	284.57M
Cash Flow
Free Cash Flow	-146.72M	-104.51M	-83.73M	-82.43M	-52.27M
Operating Cash Flow	-146.72M	-104.35M	-83.73M	-82.06M	-50.69M
Investing Cash Flow	-155.76M	-93.53M	-4.85M	91.48M	-275.44M
Financing Cash Flow	211.30M	268.82M	133.41M	476.00K	1.39M

Olema Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OLMA, the sentiment is Negative. The current price of 14.56 is below the 20-day moving average (MA) of 20.44, below the 50-day MA of 23.61, and above the 200-day MA of 14.20, indicating a neutral trend. The MACD of -2.65 indicates Positive momentum. The RSI at 26.89 is Positive, neither overbought nor oversold. The STOCH value of 21.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OLMA.

Olema Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KROS	57 Neutral	$215.91M	8.71	14.25%	―	37798.31%	―
CMPX	52 Neutral	$958.07M	-12.74	-43.61%	―	-100.00%	-28.79%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ARVN	48 Neutral	$696.54M	-9.53	-14.25%	―	―	―
OLMA	47 Neutral	$1.27B	―	-42.90%	―	―	17.23%
MGTX	47 Neutral	$598.05M	-3.30	-1065.47%	―	96.83%	-61.92%
GOSS	40 Underperform	$109.20M	―	242.63%	―	-58.17%	-116.24%

Olema Pharmaceuticals Corporate Events

Olema Pharmaceuticals CFO Departs; CEO Assumes Interim Role

On January 30, 2026, Olema Pharmaceuticals, Inc. announced that Chief Operating and Financial Officer Shane Kovacs departed the company on that date to pursue new opportunities, though he will remain as a consultant through August 1, 2026 under a separation and consulting agreement. Under the agreement, Kovacs will continue to vest in his existing equity awards during the consulting period and receive a lump-sum payment totaling $621,283, while Olema launches a search for a new Chief Financial Officer and Chief Executive Officer Sean Bohen assumes the role of principal financial officer on an interim basis, with the company emphasizing that Kovacs’ departure did not arise from any disagreement over financial operations, policies, or practices.

The most recent analyst rating on (OLMA) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Olema Pharmaceuticals stock, see the OLMA Stock Forecast page.

Olema Highlights Palazestrant Strategy in New Investor Presentation

On January 12, 2026, Olema Pharmaceuticals posted an investor presentation on its website outlining its strategy to transform the treatment paradigm for ER+/HER2- metastatic breast cancer, emphasizing the blockbuster potential of palazestrant in first-line combination with ribociclib and in second- and third-line settings as a monotherapy, as well as progress of its OP-3136 KAT6 inhibitor program, which is currently in a Phase 1 study in ER+/HER2- metastatic breast cancer. The materials underscore Olema’s view of a sizable $20 billion-plus global endocrine therapy market, highlight palazestrant’s profile as a potential best-in-class backbone endocrine therapy designed for broad combinability and favorable tolerability, and frame the company’s pipeline and clinical development plans as central to capturing significant market share and influencing future standards of care in metastatic breast cancer and other endocrine-driven tumors.

The most recent analyst rating on (OLMA) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Olema Pharmaceuticals stock, see the OLMA Stock Forecast page.