Olema Pharmaceuticals (NASDAQ:OLMA) Sets New 1-Year High After Analyst Upgrade

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $22.00 to $45.00. Oppenheimer currently has an outperform rating on the stock. Olema Pharmaceuticals traded as high as $27.17 and last traded at $19.0890, with a volume of 45938062 shares traded. The stock had previously closed at $8.52.

A number of other brokerages have also weighed in on OLMA. Guggenheim began coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price on the stock. Citigroup lifted their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $28.67.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the stock in a transaction dated 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 $973,672.96. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 25,000 shares of company stock valued at $204,841 in the last 90 days. Insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Olema Pharmaceuticals by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company’s stock valued at $496,000 after purchasing an additional 3,328 shares during the last quarter. Corton Capital Inc. raised its holdings in Olema Pharmaceuticals by 25.6% during the 1st quarter. Corton Capital Inc. now owns 21,741 shares of the company’s stock valued at $82,000 after buying an additional 4,433 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Olema Pharmaceuticals by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 349,023 shares of the company’s stock worth $1,312,000 after purchasing an additional 16,073 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Olema Pharmaceuticals by 38.1% during the first quarter. Deutsche Bank AG now owns 54,329 shares of the company’s stock valued at $204,000 after buying an additional 14,998 shares during the period. Finally, Invesco Ltd. raised its holdings in Olema Pharmaceuticals by 208.9% in the 1st quarter. Invesco Ltd. now owns 50,810 shares of the company’s stock worth $191,000 after purchasing an additional 34,362 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Up 136.4%

The company has a market capitalization of $1.38 billion, a P/E ratio of -10.77 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The stock’s 50 day moving average is $9.19 and its 200-day moving average is $6.44.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share 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.