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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.00.

A number of equities analysts have recently issued reports on OLMA shares. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. 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 research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $22.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, September 3rd.

Insiders Place Their Bets

In related news, Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.33, for a total value of $83,300.00. Following the transaction, the director owned 744,140 shares of the company’s stock, valued at approximately $6,198,686.20. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 25,000 shares of company stock valued at $204,841. 16.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after purchasing an additional 358,412 shares during the period. Affinity Asset Advisors LLC bought a new stake in Olema Pharmaceuticals in the first quarter worth $1,222,000. Nuveen LLC bought a new stake in Olema Pharmaceuticals in the first quarter worth $1,295,000. PDT Partners LLC purchased a new position in shares of Olema Pharmaceuticals in the first quarter valued at about $279,000. Finally, Farther Finance Advisors LLC increased its position in shares of 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 acquiring an additional 5,866 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $8.72 on Wednesday. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $8.29 and a two-hundred day moving average price of $5.97. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $13.51. The company has a market cap of $598.49 million, a P/E ratio of -4.40 and a beta of 2.08.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). As a group, analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current year.

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.