Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 3.5% – What’s Next?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) fell 3.5% during mid-day trading on Thursday . The company traded as low as $31.87 and last traded at $31.4550. 128,938 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,629,550 shares. The stock had previously closed at $32.60.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. UBS Group reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Oppenheimer increased their price target on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, Citigroup boosted their price objective on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Seven 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.50.

Olema Pharmaceuticals Price Performance

The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average is $17.89 and its 200 day moving average is $10.15. The company has a market cap of $1.92 billion, a P/E ratio of -14.94 and a beta of 1.87.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). As a group, sell-side analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. grew its stake in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after buying an additional 2,168 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Olema Pharmaceuticals by 21.1% during the 2nd quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock worth $63,000 after acquiring an additional 2,569 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Olema Pharmaceuticals by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock worth $7,855,000 after acquiring an additional 2,802 shares during the last quarter. FNY Investment Advisers LLC grew its position in Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Olema Pharmaceuticals in the third quarter valued at $53,000. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Company Profile

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.