Olema Pharmaceuticals (NASDAQ:OLMA) Earns Buy Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 155.97% from the company's current price.

Several other research firms have also issued reports on OLMA. Oppenheimer reissued an "outperform" rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $27.00.

Olema Pharmaceuticals Trading Down 1.6 %

OLMA stock traded down $0.19 during mid-day trading on Thursday, hitting $11.72. 245,427 shares of the company were exchanged, compared to its average volume of 759,526. The firm has a fifty day simple moving average of $12.08 and a 200 day simple moving average of $11.83. The company has a market capitalization of $671.20 million, a PE ratio of -5.64 and a beta of 2.02. Olema Pharmaceuticals has a twelve month low of $8.51 and a twelve month high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, hitting analysts' consensus estimates of ($0.54). As a group, sell-side analysts anticipate that Olema Pharmaceuticals will post -1.51 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $63,348.28. Following the completion of the transaction, the director now owns 752,217 shares in the company, valued at approximately $11,719,540.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Cyrus Harmon sold 4,066 shares of the business's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.58, for a total transaction of $63,348.28. Following the completion of the transaction, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 783,118 shares in the company, valued at approximately $11,676,289.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $34,753,000. Great Point Partners LLC bought a new position in shares of Olema Pharmaceuticals in the second quarter valued at approximately $8,622,000. Candriam S.C.A. increased its stake in shares of Olema Pharmaceuticals by 199.9% during the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company's stock valued at $11,454,000 after acquiring an additional 705,655 shares during the period. Janus Henderson Group PLC raised its holdings in Olema Pharmaceuticals by 74.5% during the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company's stock worth $13,817,000 after purchasing an additional 521,562 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in Olema Pharmaceuticals during the second quarter worth approximately $2,976,000. 91.78% of the stock is currently owned by 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.