Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $44.10 Average PT from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $44.10.

Several research analysts have recently issued reports on OLMA shares. HC Wainwright restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Guggenheim decreased their price objective on shares of 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 lowered Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday.

Olema Pharmaceuticals Trading Up 1.9%

NASDAQ:OLMA opened at $11.80 on Friday. Olema Pharmaceuticals has a 1 year low of $4.47 and a 1 year high of $36.26. The stock has a market cap of $1.03 billion, a P/E ratio of -5.84 and a beta of 2.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The stock has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $15.98.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). As a group, analysts anticipate that Olema Pharmaceuticals will post -2.22 earnings per share for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of Olema Pharmaceuticals stock in a transaction that occurred on 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 $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of OLMA. AQR Capital Management LLC acquired a new stake in Olema Pharmaceuticals during the 1st quarter worth $172,000. Goldman Sachs Group Inc. raised its stake in Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after acquiring an additional 358,412 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after purchasing an additional 94,815 shares during the period. Geode Capital Management LLC lifted its stake in shares of Olema Pharmaceuticals by 22.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after acquiring an additional 242,997 shares during the period. Finally, Creative Planning acquired a new stake in Olema Pharmaceuticals in the second quarter valued at about $83,000. 91.78% of the stock is currently owned by hedge funds and other 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.