Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Rating of “Buy” by Brokerages

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $21.43.

A number of brokerages have recently commented on OLMA. Citigroup began coverage on shares of Olema Pharmaceuticals in a report on Tuesday, January 30th. They issued a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $10.85 on Tuesday. The firm has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $13.00. Olema Pharmaceuticals has a one year low of $3.55 and a one year high of $17.79. The firm has a market cap of $606.73 million, a price-to-earnings ratio of -5.02 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). Equities analysts predict that Olema Pharmaceuticals will post -2.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Cyrus Harmon sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.41, for a total transaction of $310,250.00. Following the completion of the transaction, the director now owns 846,283 shares of the company’s stock, valued at approximately $10,502,372.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 70,000 shares of company stock valued at $835,400 in the last 90 days. 23.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OLMA. MPM Bioimpact LLC increased its stake in shares of Olema Pharmaceuticals by 301.7% during the 3rd quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock valued at $22,942,000 after acquiring an additional 1,395,181 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Olema Pharmaceuticals by 651.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,602,556 shares of the company’s stock worth $14,470,000 after purchasing an additional 1,389,244 shares in the last quarter. BlackRock Inc. increased its position in Olema Pharmaceuticals by 134.2% during the 2nd quarter. BlackRock Inc. now owns 2,333,300 shares of the company’s stock worth $21,070,000 after purchasing an additional 1,337,123 shares in the last quarter. Vanguard Group Inc. increased its position in Olema Pharmaceuticals by 58.2% during the 4th quarter. Vanguard Group Inc. now owns 2,705,895 shares of the company’s stock worth $37,964,000 after purchasing an additional 995,588 shares in the last quarter. Finally, Polar Capital Holdings Plc acquired a new stake in Olema Pharmaceuticals during the 3rd quarter worth approximately $9,262,000. Institutional investors and hedge funds 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.