Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $24.00 Average PT from Analysts

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $24.00.

Several research firms have recently issued reports on OLMA. The Goldman Sachs Group decreased their price objective on Olema Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Oppenheimer decreased their price objective on Olema Pharmaceuticals from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. Citigroup increased their price objective on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Zacks Research upgraded shares of Olema Pharmaceuticals to a “strong sell” rating in a report on Monday, August 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, April 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. raised its holdings in Olema Pharmaceuticals by 55.4% in the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after buying an additional 2,168 shares during the period. Farther Finance Advisors LLC raised its holdings in Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares during the period. FNY Investment Advisers LLC raised its holdings in Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares during the period. Hsbc Holdings PLC purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $58,000. Finally, Virtus ETF Advisers LLC raised its holdings in Olema Pharmaceuticals by 43.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock valued at $62,000 after buying an additional 3,185 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $5.51 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.09 and a quick ratio of 11.09. The firm has a market cap of $378.15 million, a PE ratio of -2.78 and a beta of 1.92. The firm has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $4.61. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, equities analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

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.