Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $40.60.

A number of research analysts have weighed in on the company. Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Citigroup lowered their target price on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. HC Wainwright decreased their price target on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lowered their price target 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.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the transaction, the director owned 715,270 shares of the company’s stock, valued at approximately $8,282,826.60. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.56% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Olema Pharmaceuticals by 5.9% in the first quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock valued at $106,013,000 after purchasing an additional 398,294 shares during the period. Jupiter Topco LLC acquired a new position in Olema Pharmaceuticals in the second quarter valued at approximately $88,803,000. BlackRock Inc. purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter valued at $84,001,000. Siren L.L.C. grew its holdings in shares of Olema Pharmaceuticals by 44.1% during the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock worth $70,926,000 after purchasing an additional 1,456,249 shares during the last quarter. Finally, Cormorant Asset Management LP purchased a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $68,750,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $8.75 on Friday. The company’s fifty day moving average price is $10.75 and its 200 day moving average price is $12.48. Olema Pharmaceuticals has a 1 year low of $6.65 and a 1 year high of $36.26. The stock has a market capitalization of $765.62 million, a P/E ratio of -4.13 and a beta of 1.98. 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 (NASDAQ:OLMA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). As a group, equities research analysts anticipate that Olema Pharmaceuticals will post -2.43 earnings per share for the current fiscal year.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women with cancer, particularly hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address the biological drivers of tumor growth and provide new options for patients with advanced or metastatic disease.

Olema’s lead investigational product is palazestrant, an oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.