HC Wainwright Issues Positive Forecast for Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price raised by HC Wainwright from $28.00 to $36.00 in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Citigroup lifted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Oppenheimer restated an “outperform” rating and issued a $22.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, September 3rd. Zacks Research upgraded shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock opened at $20.14 on Tuesday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $27.17. The company has a market cap of $1.38 billion, a P/E ratio of -10.77 and a beta of 2.07. The business has a fifty day simple moving average of $9.19 and a 200 day simple moving average of $6.44.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, sell-side analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $8.32, for a total transaction of $25,675.52. Following the completion of the transaction, the director owned 117,028 shares in the company, valued at approximately $973,672.96. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 25,000 shares of company stock worth $204,841. Corporate insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently modified their holdings of OLMA. Paradigm Biocapital Advisors LP increased its position in shares of Olema Pharmaceuticals by 0.4% during the third quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock worth $66,515,000 after buying an additional 30,000 shares during the period. Deep Track Capital LP lifted its holdings in Olema Pharmaceuticals by 0.8% in the third quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock valued at $33,973,000 after buying an additional 27,339 shares during the period. MPM Bioimpact LLC boosted its position in Olema Pharmaceuticals by 0.6% during the first quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after acquiring an additional 17,896 shares during the last quarter. Woodline Partners LP boosted its position in Olema Pharmaceuticals by 8.9% during the first quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock valued at $5,557,000 after acquiring an additional 120,428 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after acquiring an additional 242,997 shares during the period. 91.78% of the stock is 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.