Olema Pharmaceuticals (OLMA) AI Stock Analysis

• Market Cap: $1.93B
• Dividend Yield: N/A
• Average Volume (3M): 1.34M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.79
• Revenue Growth: N/A
• EPS Growth: 17.23%
• Country: US
• Employees: 96
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.49
• Shares Outstanding: 78,659,920
• 10 Day Avg. Volume: 852,524
• 30 Day Avg. Volume: 1,335,433
• PEG Ratio: -0.94
• Price to Book (P/B): 0.84
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.28
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -15.77K
• Enterprise Value/Ebitda: -12.51
• 1Y Price Target: $43.90
• Price Target Upside: 78.67% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): -2.24
• Revenue Forecast (FY): $2.81M

• Rating: 56 Neutral
• Price Target: $29.00 ▲(18.03% Upside)

The score is held back primarily by weak financial performance (no revenue, widening losses, and accelerating cash burn), partly offset by strong technical trends (price well above longer-term averages with positive MACD) and favorable recent clinical/program updates. Valuation remains challenged due to negative earnings and no dividend support.

Positive Factors

Strategic Collaboration

The collaboration with Novartis could enhance Olema's market position and support long-term growth through shared resources and expertise in developing breast cancer treatments.

Clinical Pipeline Advancements

Advancements in the clinical pipeline, particularly the Phase 3 trials, indicate progress towards commercialization, which is crucial for future revenue generation and market competitiveness.

Strong Equity Position

A strong equity position with minimal debt provides financial stability and flexibility, enabling Olema to invest in R&D and strategic initiatives without immediate financial pressure.

Negative Factors

Zero Revenue

The absence of revenue highlights the risk associated with Olema's reliance on future drug approvals and partnerships for financial sustainability, posing a challenge to long-term viability.

Increasing Net Losses

Rising net losses indicate financial strain, necessitating external funding and potentially diluting shareholder value, which could impact long-term financial health.

Negative Cash Flow

Negative cash flow reflects high cash burn typical for biotech firms, highlighting the need for continuous capital infusion to sustain operations and fund ongoing R&D activities.

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 makes money primarily through the development and commercialization of its drug candidates. As a clinical-stage company, its revenue model is heavily reliant on advancing its lead product candidate, OP-1250, through clinical trials and, ultimately, gaining regulatory approval for commercialization. The company may also enter into partnerships or licensing agreements with larger pharmaceutical companies, which could provide upfront payments, milestone payments, and royalties based on the sales of successfully developed drugs. Additionally, Olema may generate revenue through collaborations with research institutions or by securing grants to support its research and development activities.

Olema Pharmaceuticals Financial Statement Overview

Summary

Pre-commercial profile with no revenue and widening net losses in TTM (~$150M vs. ~$129.5M in 2024) alongside higher cash burn (operating cash flow ~-$134.7M vs. -$104.4M). Balance sheet leverage is low (debt-to-equity ~0.5%), but equity has declined (~$409.0M to ~$307.5M), increasing dilution/financing risk if burn persists.

Income Statement

Across annual periods and TTM (Trailing-Twelve-Months), the company reports no revenue and consistently large operating losses. Losses have widened in the most recent TTM period (net loss of ~$150.0M vs. ~$129.5M in 2024), indicating a rising cost base and limited near-term earnings visibility. A positive is that losses are currently not being driven by gross margin deterioration (revenue is effectively zero), but the lack of commercial revenue keeps profitability and operating leverage weak.

Balance Sheet

The balance sheet is conservatively levered with very low debt relative to equity (debt-to-equity ~0.5% in TTM), which reduces financial risk and provides flexibility. However, equity has declined from ~$409.0M (2024) to ~$307.5M in TTM, consistent with ongoing losses consuming capital. Returns on equity remain materially negative (about -41.5% in TTM), highlighting that despite low leverage, shareholder capital is being burned.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow both negative in every period shown, and the cash burn increased in TTM (operating cash flow about -$134.7M vs. -$104.4M in 2024). A relative positive is that free cash flow tracks net income closely (roughly 1x), suggesting losses are not heavily masked by non-cash items—yet the absolute burn rate remains high. Free cash flow growth improved in TTM versus 2024, but it is improving from a still-deeply negative base.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-128.00K	0.00	0.00	0.00	0.00	-11.00K
EBITDA	-161.30M	-141.87M	-104.58M	-106.63M	-71.33M	-21.52M
Net Income	-149.96M	-129.47M	-96.66M	-104.79M	-71.10M	-22.12M
Balance Sheet
Total Assets	352.45M	450.98M	276.94M	215.65M	295.94M	342.72M
Cash, Cash Equivalents and Short-Term Investments	328.96M	434.09M	261.81M	204.42M	287.25M	338.55M
Total Debt	4.48M	1.43M	2.42M	2.56M	3.29M	0.00
Total Liabilities	44.97M	42.02M	23.05M	18.10M	11.38M	4.58M
Stockholders Equity	307.49M	408.96M	253.90M	197.55M	284.57M	338.14M
Cash Flow
Free Cash Flow	-134.67M	-104.51M	-83.73M	-82.43M	-52.27M	-19.92M
Operating Cash Flow	-134.67M	-104.35M	-83.73M	-82.06M	-50.69M	-19.87M
Investing Cash Flow	-108.00M	-93.53M	-4.85M	91.48M	-275.44M	-56.00K
Financing Cash Flow	242.04M	268.82M	133.41M	476.00K	1.39M	358.40M

Olema Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.57
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OLMA, the sentiment is Positive. The current price of 24.57 is below the 20-day moving average (MA) of 26.47, below the 50-day MA of 26.78, and above the 200-day MA of 11.37, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 49.18 is Neutral, neither overbought nor oversold. The STOCH value of 23.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OLMA.

Olema Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KROS	62 Neutral	$543.21M	11.66	10.43%	―	37798.31%	―
ARVN	61 Neutral	$830.42M	―	―	―	―	―
CMPX	58 Neutral	$1.10B	-13.94	-37.82%	―	-100.00%	-28.79%
OLMA	56 Neutral	$1.93B	-14.38	-59.22%	―	―	17.23%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MGTX	47 Neutral	$624.61M	-3.66	-611.42%	―	96.83%	-61.92%
GOSS	47 Neutral	$611.04M	―	―	―	-58.17%	-116.24%

Olema Pharmaceuticals Corporate Events

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.

Olema Pharmaceuticals Announces Public Stock Offering

On November 18, 2025, Olema Pharmaceuticals announced a public offering of 10,000,000 shares of its common stock at $19.00 per share, expected to close on November 20, 2025. The offering aims to raise approximately $190 million, excluding underwriting discounts and commissions, with an option for underwriters to purchase an additional 1,500,000 shares. This move is part of Olema’s strategy to strengthen its financial position and support its ongoing operations in the competitive pharmaceutical market.

The most recent analyst rating on (OLMA) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Olema Pharmaceuticals stock, see the OLMA Stock Forecast page.

Olema Pharmaceuticals Terminates ATM Prospectus

Olema Pharmaceuticals announced the termination of its ATM Prospectus, effective November 18, 2025, which was related to the sale of its common stock in an ‘at-the-market’ offering. The termination means the company will not sell its common stock under the existing Sales Agreement with TD Securities (USA) LLC until a new prospectus or registration statement is filed, although the Sales Agreement itself remains active.

The most recent analyst rating on (OLMA) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Olema Pharmaceuticals stock, see the OLMA Stock Forecast page.