Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Consensus Rating of “Buy” from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $27.00.

A number of equities analysts recently commented on OLMA shares. JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $12.21 on Monday. The firm has a market capitalization of $682.95 million, a price-to-earnings ratio of -6.04 and a beta of 2.06. The stock has a fifty day moving average of $12.86 and a 200 day moving average of $12.20. Olema Pharmaceuticals has a 52-week low of $8.50 and a 52-week high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, meeting analysts’ consensus estimates of ($0.54). Equities analysts forecast that Olema Pharmaceuticals will post -2.3 earnings per share for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the transaction, the insider now directly owns 783,118 shares in the company, valued at approximately $11,676,289.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.77, for a total value of $215,400.00. Following the transaction, the director now owns 761,283 shares in the company, valued at approximately $8,199,017.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,449,066 shares of company stock worth $36,319,848. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in Olema Pharmaceuticals during the 2nd quarter valued at approximately $34,753,000. Great Point Partners LLC bought a new position in Olema Pharmaceuticals in the 2nd quarter worth about $8,622,000. Candriam S.C.A. grew its position in Olema Pharmaceuticals by 199.9% during the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after purchasing an additional 705,655 shares during the last quarter. First Light Asset Management LLC bought a new stake in Olema Pharmaceuticals during the 4th quarter valued at about $8,854,000. Finally, Victory Capital Management Inc. raised its holdings in Olema Pharmaceuticals by 879.6% in the fourth quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock worth $8,720,000 after buying an additional 558,077 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

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.