Olema Pharmaceuticals (NASDAQ:OLMA) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Olema Pharmaceuticals (NASDAQ:OLMA) from a sell rating to a strong sell rating in a research note released on Saturday morning.

Several other research firms have also commented on OLMA. Wolfe Research assumed coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They set a “peer perform” rating for the company. HC Wainwright restated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Friday, May 22nd. Guggenheim lowered their price objective on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $11.70 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -5.79 and a beta of 2.00. The business’s fifty day moving average price is $11.61 and its 200 day moving average price is $17.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. Olema Pharmaceuticals has a 12-month low of $4.47 and a 12-month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.52). Equities research analysts forecast that Olema Pharmaceuticals will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Olema Pharmaceuticals by 14.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after purchasing an additional 477 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Olema Pharmaceuticals by 8.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock worth $325,000 after buying an additional 987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Olema Pharmaceuticals by 44.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock worth $96,000 after buying an additional 1,169 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after buying an additional 1,232 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Olema Pharmaceuticals by 13.8% in the fourth quarter. ProShare Advisors LLC now owns 14,367 shares of the company’s stock valued at $359,000 after buying an additional 1,740 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

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.