Olema Pharmaceuticals (NASDAQ:OLMA) Trading 7.1% Higher – Still a Buy?

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) traded up 7.1% during trading on Tuesday . The stock traded as high as $10.59 and last traded at $10.7080. 668,432 shares traded hands during trading, a decline of 54% from the average session volume of 1,449,356 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

Several analysts have weighed in on OLMA shares. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Wolfe Research started coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They issued a “peer perform” rating on the stock. HC Wainwright reissued a “buy” rating on shares of Olema Pharmaceuticals in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group lowered their target price on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.10.

Olema Pharmaceuticals Trading Up 5.8%

The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $13.05 and its two-hundred day moving average price is $19.55. The company has a market capitalization of $973.08 million, a PE ratio of -5.51 and a beta of 1.98.

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

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after acquiring an additional 1,664,687 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in Olema Pharmaceuticals by 11.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock valued at $188,604,000 after acquiring an additional 750,000 shares in the last quarter. 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 acquiring an additional 398,294 shares in the last quarter. Siren L.L.C. increased its position in Olema Pharmaceuticals by 44.1% during the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after purchasing an additional 1,456,249 shares during the period. Finally, Vanguard Group Inc. increased its position in Olema Pharmaceuticals by 11.4% during the 4th quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company’s stock valued at $89,034,000 after purchasing an additional 364,035 shares during the period. 91.78% of the stock is 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.