Olema Pharmaceuticals (NASDAQ:OLMA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $30.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer restated an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA traded up $0.05 on Thursday, reaching $11.77. The company had a trading volume of 15,098 shares, compared to its average volume of 755,917. The business has a 50 day moving average of $12.06 and a two-hundred day moving average of $11.83. Olema Pharmaceuticals has a fifty-two week low of $8.51 and a fifty-two week high of $17.79. The firm has a market cap of $674.07 million, a price-to-earnings ratio of -5.66 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, meeting analysts’ consensus estimates of ($0.54). As a group, research analysts predict that Olema Pharmaceuticals will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Cyrus Harmon sold 4,066 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now owns 752,217 shares in the company, valued at $11,719,540.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 of the company’s stock, valued at $11,676,289.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cyrus Harmon sold 4,066 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the completion of the transaction, the director now owns 752,217 shares in the company, valued at $11,719,540.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of OLMA. China Universal Asset Management Co. Ltd. grew its stake in shares of Olema Pharmaceuticals by 67.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after acquiring an additional 4,442 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals during the second quarter worth about $145,000. SG Americas Securities LLC bought a new stake in Olema Pharmaceuticals in the 3rd quarter worth about $156,000. Entropy Technologies LP purchased a new stake in Olema Pharmaceuticals in the 1st quarter valued at about $161,000. Finally, Ensign Peak Advisors Inc increased its stake in Olema Pharmaceuticals by 6.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after buying an additional 850 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.