Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $40.60.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, September 14th. Wall Street Zen cut Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. lowered their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. HC Wainwright dropped their price objective on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 21st.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the sale, the director directly 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 legal filing with the SEC, which is available at this hyperlink. 12.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 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 worth $106,013,000 after purchasing an additional 398,294 shares in the last quarter. Jupiter Topco LLC bought a new position in Olema Pharmaceuticals during the second quarter valued at about $88,803,000. BlackRock Inc. bought a new position in Olema Pharmaceuticals during the second quarter valued at about $84,001,000. Siren L.L.C. raised its holdings in Olema Pharmaceuticals by 44.1% during the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after buying an additional 1,456,249 shares in the last quarter. Finally, Cormorant Asset Management LP bought a new position in Olema Pharmaceuticals during the fourth quarter valued at about $68,750,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $7.02 on Wednesday. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 1 year low of $6.65 and a 1 year high of $36.26. The business has a fifty day simple moving average of $9.90 and a 200 day simple moving average of $11.88. The firm has a market cap of $614.25 million, a price-to-earnings ratio of -3.31 and a beta of 2.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). As a group, sell-side analysts predict that Olema Pharmaceuticals will post -2.43 earnings per share for the current fiscal year.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

Olema’s lead product candidate is palazestrant, an investigational oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.