Olema Pharmaceuticals' (OLMA) Outperform Rating Reaffirmed at Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Oppenheimer in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the stock, down from their prior price objective of $30.00. Oppenheimer's target price points to a potential upside of 491.02% from the stock's previous close.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday.

Olema Pharmaceuticals Price Performance

OLMA stock traded up $0.11 on Wednesday, reaching $4.23. 2,079,395 shares of the company were exchanged, compared to its average volume of 805,734. The firm has a market capitalization of $242.37 million, a PE ratio of -1.93 and a beta of 2.11. Olema Pharmaceuticals has a 12 month low of $3.94 and a 12 month high of $16.62. The stock's fifty day moving average price is $5.09 and its 200 day moving average price is $8.30.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.12. As a group, research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

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Insider Activity

In related news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 19.40% of the company's stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of OLMA. Polar Asset Management Partners Inc. acquired a new position in Olema Pharmaceuticals during the fourth quarter worth $119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Olema Pharmaceuticals by 23.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,979 shares of the company's stock worth $548,000 after purchasing an additional 18,005 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Olema Pharmaceuticals by 205.8% during the 4th quarter. Squarepoint Ops LLC now owns 48,829 shares of the company's stock worth $285,000 after purchasing an additional 32,860 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Olema Pharmaceuticals by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company's stock valued at $83,000 after purchasing an additional 3,298 shares during the last quarter. Finally, MPM Bioimpact LLC lifted its holdings in Olema Pharmaceuticals by 8.7% during the 4th quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company's stock valued at $16,980,000 after purchasing an additional 231,954 shares during the last quarter. Institutional investors own 91.78% of the company's stock.

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.