Olema Pharmaceuticals (NASDAQ:OLMA) Hits New 1-Year High – What’s Next?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $36.13 and last traded at $35.83, with a volume of 3355702 shares. The stock had previously closed at $33.05.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on OLMA shares. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Guggenheim initiated coverage on Olema Pharmaceuticals in a report on Wednesday, October 8th. They set a “buy” rating and a $20.00 price target on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Olema Pharmaceuticals Stock Performance

The business’s 50 day simple moving average is $17.14 and its two-hundred day simple moving average is $9.84. The firm has a market capitalization of $2.24 billion, a PE ratio of -17.43 and a beta of 1.87. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). Research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Olema Pharmaceuticals by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 349,023 shares of the company’s stock worth $1,312,000 after buying an additional 16,073 shares during the last quarter. Deutsche Bank AG raised its position in Olema Pharmaceuticals by 38.1% in the first quarter. Deutsche Bank AG now owns 54,329 shares of the company’s stock worth $204,000 after acquiring an additional 14,998 shares during the period. Invesco Ltd. boosted its stake in shares of Olema Pharmaceuticals by 208.9% during the 1st quarter. Invesco Ltd. now owns 50,810 shares of the company’s stock worth $191,000 after acquiring an additional 34,362 shares during the last quarter. Nuveen LLC bought a new stake in shares of Olema Pharmaceuticals during the 1st quarter valued at $1,295,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Olema Pharmaceuticals in the 1st quarter worth $71,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

About Olema Pharmaceuticals

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 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib 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, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.